The Firm represented BB Securities Limited, Banco Bradesco BBI S.A., HSBC Securities (USA) Inc., Morgan Stanley & Co LLC and Santander Investment Securities Inc., as dealer managers, in connection with the tender offers to purchase for cash from each registered holder (i) any and all of the outstanding 11.25% Senior Notes due 2021 issued by of Marfrig Holdings (Europe) B.V. (“Marfrig Holdings”), and (ii) up to US$500 million in aggregate consideration amount of (a) the 6.875% Senior Notes due 2019, issued by Marfrig Holdings, (b) the 8.375% Senior Notes due 2018, issued by Marfrig Holdings and (c) the 9.5% Senior Notes due 2020 issued by Marfrig Overseas Limited (“Marfrig Overseas”). The tender offers expired on October 27, 2015 and settlement for the tender offers occurred on October 28, 2015. Approximately US$406.5 million in aggregate principal amount of Notes have been validly tendered.
Marfrig Holdings and Marfrig Overseas are wholly owned subsidiaries of Marfrig Global Foods S.A., a multinational company with operations in the food and food service sectors in Brazil and around the world, with activities focused on the production, processing, preparation, sale and distribution of animal protein (beef, lamb and poultry, which consists of chicken and turkey) and other varied food products such as breaded products, ready-to-eat meals, fish, frozen vegetables and desserts, among others.
The Simpson Thacher team included Grenfel S. Calheiros, Rodrigo Surcan dos Santos, Tosca Augustin and Edgard Pascarelli (Capital Markets – São Paulo and New York); and Jonathan Cantor (Tax).