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Bond Market News
Marfrig Launches Cash Tender Offer for 2029s
September 29, 2026
Marfrig Global Foods, through its subsidiary NBM US Holdings, has launched a cash tender offer to purchase its entire outstanding 6.625% notes due in 2029. The notes have an aggregate principal amount outstanding of ~$467.5mn. The tender offer is set to expire on October 2 with the settlement expected on October 6. The purchase price is set at $1,002.5 per $1,000 of principal amount representing a slight premium to its current price. Holders will also receive accrued and unpaid interest from the last interest payment date to the settlement date if their notes are accepted in the tender. The tender offer is subject to Marfrig and its subsidiaries successfully pricing new senior note offerings. The new debt would be issued by Marfrig subsidiaries and guaranteed by Marfrig, NBM, BRF and other group entities. The transaction forms part of Marfrig’s broader debt-management strategy.
Its 6.625% 2029s were trading stable at 100 cents on the dollar, yielding 6.9%.
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-Vandit P
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