The Firm represented J.P. Morgan Securities Inc. and Santander Investment Securities Inc. as initial purchasers, in a US$200 million debt offering for JBS S.A., a Brazilian corporation. The Notes constituted a further issuance of the 8.25% Notes due 2018 initially issued on July 29, 2010. JBS Finance II Limited, a Cayman Islands finance subsidiary, issued 8.25% Notes due 2018, which were guaranteed by JBS S.A. and JBS Hungary Holdings Kft. The offering was conducted in reliance upon Rule 144A and Regulation S.
JBS S.A. is one of the world’s largest protein companies, and is the world’s largest beef producer and exporter. They process, prepare, package and deliver fresh and further processed and value-added beef, pork, lamb and poultry products, in addition to processing leather and producing milk and dairy products, in over 100 countries on six continents. They have operations in the United States, Brazil, Australia, Argentina, China, Italy, Mexico, Paraguay, Puerto Rico, Russia, and Uruguay.
JBS S.A. is using the net proceeds from the offering principally to refinance indebtedness and for general corporate purposes.
The Simpson Thacher team for the transaction included, among others, S. Todd Crider, Jaime Mercado, Grenfel Calheiros and William A. Langer (Capital Markets), Jonathan Cantor and Danny Salinas (Tax) and Lisa Wallis and Matt Nestler (paralegals).