Meetings with fixed-income investors started alongside a $467.5 million buyback offer.
MBRF is meeting with fixed-income investors to evaluate its first bond offering since Marfrig acquired BRF last year, according to a person familiar with the matter who spoke to Bloomberg News.
The talks began on September 28, 2026. The company could issue notes due in just over seven years that cannot be called for three years, or paper maturing in slightly more than 10 years with call protection for five years, the person said.
S&P Global Ratings and Fitch Ratings both assigned a prospective BB+ rating to the potential notes on Monday, leaving them one step below investment grade.
Alongside the debt roadshow, a tender offer was announced to buy back $467.5 million in notes maturing in 2029 issued by a subsidiary of MBRF. That offer expires on October 2, 2026. Banco Bradesco, BTG Pactual, HSBC Holdings, JPMorgan, and Banco Santander are acting as global coordinators for the potential debt issuance, according to the person.
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