JBS To Secure $800M Loan

Beef producer, JBS, is planning to secure an $800 million asset-backed loan to reduce debt and cut borrowing costs.

Beef producer, JBS, is planning to secure an $800 million asset-backed loan to reduce debt and cut borrowing costs, Bloomberg reports. The company will pay interest of around 4.5% per annum on the five-year syndicated loan and may borrow more according to demand.

The loan from U.S. agricultural banks will be guaranteed by inventories and other assets. It had earlier intended to raise about $2.5 billion through notes and loans to pay off real denominated obligations.

Click here for the story from Bloomberg.

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