The unit also announced a tender offer to repurchase $467.5 million in notes due in 2029.
Marfrig's unit MBRF began meeting with fixed-income investors on September 28, 2026, to discuss its first bond issuance since Marfrig acquired BRF in 2025. A person familiar with the matter reported that the company is evaluating debt securities to refinance its obligations.
The company may issue bonds with maturities of slightly over seven years, non-callable for three years, or notes maturing in slightly over 10 years, non-callable for five years. Both S&P Global Ratings and Fitch Ratings stated on September 28, 2026, that any potential bonds would receive a BB+ rating, which is one notch below investment grade.
Separately, an offer was announced to repurchase $467.5 million in notes due in 2029 issued by an MBRF unit. That tender offer is set to expire on October 2, 2026.
Banco Bradesco, BTG Pactual, HSBC Holdings, JPMorgan, and Banco Santander are acting as global coordinators for the potential bond transaction, according to the person familiar with the discussions.
Newsletter
Markets in your inbox, weekly
Latin America-focused analysis, investment themes and the week in finance.