Simpson Thacher Advises on BRF’s US$750 Million Senior Notes Offering and Concurrent Tender Offers
09.30.19
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Simpson Thacher represented BRF S.A. (“BRF”) in connection with its offering of US$750 million aggregate principal amount of 4.875% Senior Notes due 2030 pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended. BRF intends to use substantially all of the net proceeds of the offering to repay outstanding indebtedness, with the remainder for general corporate purposes.
Simpson Thacher also represented BRF in concurrent abbreviated cash tender offers for its outstanding 5.875% Senior Notes due 2022, 2.75% Senior Notes due 2022 and 3.95% Senior Notes due 2023 and in a concurrent capped cash tender offer for its outstanding 4.75% Senior Notes due 2024.
BRF is one of the largest producers of fresh and frozen protein foods in the world, in terms of production capacity, with a portfolio of approximately four thousand stock keeping units.
The Simpson Thacher team for the transaction included Grenfel S. Calheiros, Kirsten L. Davis and Winnie Y. Loureiro (Capital Markets – New York and São Paulo); and Jonathan E. Cantor and Jessica Levy (Tax).