JBS SA’s decision to submit its business to increased US scrutiny appears to be paying off with debt investors, as the bonds of the world’s largest meat packer are largely outperforming those of its peers.
The Brazilian firm last month became a public reporting company under requirements of the U.S. Securities Exchange Act of 1934 after it obtained the green light from the regulator. JBS is also in the process of replacing its existing dollar-denominated bonds with new ones and is seeking shareholder approval to trade its stock, which is currently listed in Sao Paulo, in New York City.
“We’ll have more compliance,” Chief Financial Officer Guilherme Cavalcanti said in an interview, referring to the company’s new status as a US-registered company. Starting this quarter, the company will report its earnings fully in US-dollars and follow the standards set by the Public Company Accounting Oversight Board, he said.
A large majority of JBS bondholders should have agreed to replace their notes with SEC-registered ones by Monday, when the exchange period ends, according to Cavalcanti. That means the company’s debt will no longer face trading restrictions in the US. “Bondholders have always asked for the registration,” the executive said.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Extra $71,000 secures early offer for freehold townhouse in AjaxNew paintjob and lighting help bring quick, two day sale for two-bedroom townhouse
Lire la suite »
Ukraine's Zelenskiy in Netherlands in push to boost air defencesEINDHOVEN (Reuters) - Ukrainian President Volodymyr Zelenskiy arrived in the Netherlands on Sunday in an ongoing push to boost Ukraine's air defences, ...
Lire la suite »
Ukraine's Zelenskiy in Netherlands in push to boost air defencesEINDHOVEN (Reuters) - Ukrainian President Volodymyr Zelenskiy arrived in the Netherlands on Sunday in an ongoing push to boost Ukraine's air defences, ...
Lire la suite »
Eric Akis: Fresh blackberry sauce tops a summer ice-cream treatThis ice-cream sundae features blackberry sauce with balsamic vinegar for extra zing.
Lire la suite »
Gun-owner advocates will push to scrap Bill C-21 in fall sessionLegislation related to firearms and cyber security are on the fall agenda.
Lire la suite »