Latest news with #JBSNV
Irish Independent
02-07-2025
- Business
- Irish Independent
US ranchers finally moving to increase cattle supplies, JBS says
©Bloomberg US ranchers are moving to expand their herds from a seven-decade low, paving the way for a long-awaited recovery in beef supplies, according to top producer JBS NV. "We are into herd rebuild right now," Wesley Batista Filho, chief executive officer of the Brazilian company's North American business, said in an interview. "The economic incentives are there, the weather is helping."
Mint
30-06-2025
- Business
- Mint
Meat Giant JBS Says Investor Demand for Its Bonds Undercuts ESG Concerns
(Bloomberg) -- JBS NV's New York listing was met with fierce opposition from activist groups and politicians over the meat producer's ESG record. Many investors, however, seem willing to look the other way. A $3.5 billion bond sale earlier this week drew demand totaling five times the offering, slashing borrowing costs and providing strong evidence of investors' confidence in JBS, Chief Financial Officer Guilherme Cavalcanti said Wednesday during a conference with journalists in New York. 'The main funds were all there, eager to be allocated,' Cavalcanti said, after being asked how criticism of the company impacted investor perception. The issuance was well oversubscribed less than three hours after launch, he added, without naming any of the buyers. The deal's success suggests investors are inclined to look past activists' criticism over issues such as the past scandals involving the brothers who control JBS and the company's alleged role in deforestation, placing more emphasis on the company's ability to grow and keep its finances under control. JBS has taken steps to boost its environmental, social and governance credentials. The company has done 'transformative' work to slash cattle ranching-related deforestation in the Amazon region, Chief Executive Officer Gilberto Tomazoni said during the same conference. And it has now a 'very robust' compliance program in place, Cavalcanti said in a Bloomberg TV interview. The company said in a statement that investors have repeatedly demonstrated confidence in JBS's actions to mitigate risks in areas such as governance and the environment 'thanks to the robust programs JBS has implemented.' The bond sale was the first since the meat producer listed its shares on the New York Stock Exchange earlier this month in a move aimed at attracting a broader pool of investors and reducing capital costs. Bondholders demanded a premium of 1.25 percentage points over Treasuries for its $1.25 billion in 10-year bonds — a record low for JBS offerings with similar maturities, and comparable to the levels required from high-grade US issuers such as Energy Transfer LP and NextEra Energy Inc. Borrowers rushed to tap debt markets this week amid improved risk sentiment. Mexico, Chile and Latam Airlines Group SA are among those who came out with bond issuances this week. JBS said earnings before items such as interest and taxes have potential to grow at an annual rate of as much as 7% over the next five years as the company seeks to expand into branded, value-added food products. Sales are projected by analysts at a record $82.5 billion this year. The stock is headed for a 10% gain this week, the most among main peers. To be sure, JBS still faces scrutiny from activist groups. Earlier this month, Greenpeace International Program Director Carmen Gravatt said the organization will do its part to make sure that JBS — which relocated its corporate address to the Netherlands — operates within Dutch law. The non-profit also urged investors not to invest in the company. (Updates with company statement in sixth paragraph, and share move in 11th paragraph.) More stories like this are available on ©2025 Bloomberg L.P.
Bloomberg
23-06-2025
- Business
- Bloomberg
Meat Giant JBS Plans First Bond Sale After US Listing to Extend Debt Maturities
JBS NV is preparing to sell bonds for the first time after its US listing as the world's largest meat producer seeks to extend maturities on its debt. The Brazilian company is expected to price a three-part offering of debt due in 10, 30 and 40 years on Monday, according to a person with direct knowledge of the matter. JBS has also made an offer to repurchase all of its $1 billion in notes expiring in 2027 and disclosed plans to redeem at least a portion of its $900 million in bonds due 2028, according to a statement.
Bloomberg
13-06-2025
- Business
- Bloomberg
Meat Giant JBS Eyes Deeper Pockets as It Starts New York Trading
JBS NV shares started trading in New York, giving the world's largest meat producer a market value of about $15 billion as it culminated a years-long effort to reach a broader pool of investors. Shares of the Brazilian company opened at $13.65 apiece on the New York Stock Exchange. On Thursday, Brazilian depository receipts of JBS NV closed at $13.70 per unit in Sao Paulo.
Bloomberg
11-06-2025
- Business
- Bloomberg
Top Meat Processor JBS Delays Start of New York Trading by a Day
The world's largest meat packer JBS NV delayed the start of trading of its shares in New York by one day, the company said in a regulatory filing The move comes after the company couldnt't conclude certain operational procedures necessary for the listing. Shares are now expected to start trading on Friday.
