Bonds
Batista Brothers’s Business Debuts in US Junk-Bond Market
Wesley Batista, from left, Jose Batista Sobrinho, Flora Mendonca Batista, and Joesley Batista on the floor at the New York Stock Exchange on June 25.
Photographer: Michael Nagle/BloombergThe Brazilian conglomerate controlled by the billionaire Batista brothers tapped the US junk-debt market for a debut offering in a push to refinance debt.
J&F SA, which controls the world’s largest meat producer JBS NV, raised about $400 million from a seven-year note, according to people familiar with the matter. The debt was sold at a yield of 8%, the people said, asking not to be identified because details are private.