JBS · JBS N.V.

JBS N.V., through its wholly-owned subsidiary JBS USA Food Company Holdings, disclosed strong early tender participation in its cash tender offers for 6.750% Senior Notes due 2034 and 5.950% Senior Notes due 2035, with US$1.323 billion (87.8% of outstanding) and US$830 million (83.0%) tendered by the April 10 Early Tender Date, respectively. Due to tenders exceeding the upsized US$1.2 billion Maximum Amount, purchases will be prorated solely for 2034 Notes, excluding all 2035 Notes tendered early and any late tenders. This indicates robust investor interest in exchanging older, higher-coupon debt for new issuances. Concurrently, the company priced a US$500 million re-tap, adding US$250 million to existing 5.625% Senior Notes due 2037 (totaling US$1.5 billion) and US$250 million to 6.400% Senior Notes due 2057 (totaling US$1 billion), following initial March 30 offerings. Settlement for both the tender purchases (expected April 14 payment) and new notes issuance is set for April 13, 2026, subject to customary conditions. Proceeds will primarily repay tender consideration, with remainder for general corporate purposes, supporting efficient capital structure management and likely lower overall interest costs given the new notes' rates versus tendered debt.