Marfrig unit cancels tender offer for 2029 notes
The subsidiary halted the buyback of $467.5 million in notes after a financing condition was not met.
Brazilian meatpacker Marfrig Global Foods announced on October 2, 2026, that its subsidiary NBM US Holdings terminated its cash tender offer for its outstanding 6.625% senior notes due 2029. The notes carry an aggregate principal amount outstanding of $467,471,000.
The company stated that the buyback was canceled because the required financing condition was not satisfied. Under the terms set on September 28, 2026, the purchase depended on MARB BondCo PLC completing a debt offering guaranteed by Marfrig to generate sufficient net proceeds to cover the tender price and accrued interest.
Because the transaction was terminated, NBM will purchase no notes and will pay no consideration. All notes that were tendered and not withdrawn will be promptly returned to their holders. NBM noted that it reserves the right to launch a new tender offer in the future, although it is under no obligation to do so.
Newsletter
Markets in your inbox, weekly
LATAM-focused analysis, investing ideas, and the week in finance.