April 16, 2009

Brazil's JBS, the world's largest beef producer, said Tuesday (Apr 14) its subsidiaries JBS USA, LLC and JBS USA, Finance Inc will issue US$400 million in bonds maturing in 2014.

Through this offering, JBS intends to balance debt with revenue geographically, improve its short term liquidity, and increase the company's cash position.

The offering will be available only for qualified investors and is expected to conclude in April, depending on market conditions, JBS said.

JBS became the third-largest US beef producer in 2008 when it bought the beef operations of Smithfield Foods, which included beef plants and the Five Rivers Ranch cattle feeding operation.