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International bonds: BRF - Brasil Foods, 4.75% 22may2024, USD (USP1905CAE05, P1905CAE0)

StatusCountry of riskMaturity (option)
Amount i
This field shows outstanding face value amount for outstanding bonds
Issue ratings (M/S&P/F)
outstandingBrazil**/**/****519,043,000 USD***/***/***
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Issue information

BorrowerBRF - Brasil Foods
Bond typeCoupon bonds
Form of issueRegistered documentary bonds
Placement methodOpen subscription
Placement typePublic
Issue purposeShow
Issue purpose
We expect the net proceeds from the sale of the notes will be approximately U.S.$734.0 million after deducting estimated fees and expenses of the offering. The company intends to use the net proceeds from the sale of the notes to (1) finance the Tender Offers (as described under “Summary—Recent Developments—Tender Offers” of the Offering Memorandum), and (2) pay fees and expenses associated with the Tender Offers. The aggregate principal amount of notes accepted for purchase under the Tender Offers was U.S.$60,953,000 under the 2017 Notes and U.S.$409,640,000 under the 2020 Notes. The Company will pay aggregate cash premiums of US$86.4 million for notes tendered in the Tender Offers. The remainder of the net proceeds from the sale of the notes will be used for general corporate purposes.
Par amount, integral multiple1,000 USD
Nominal of international bonds1,000 USD
Minimum settlement amount200,000 USD
Outstanding principal amount200,000 USD
Amount750,000,000 USD
Amount Outstanding519,043,000 USD
Outstanding face value amount519,043,000 USD
Placement date**/**/****
Maturity date**/**/****
Redemption price100%
Floating rateNo
Coupon Rate*.**%
Current coupon rate4.75%
Day count fraction***
ACI*** (10/16/2019)
Coupon frequency2 time(s) per year
Interest accrual date**/**/****
ListingLuxembourg S.E.
Issue is included in calculation of indicesEuro-Cbonds Corporate Brazil, Euro-Cbonds NIG Corporate EM, Euro-Cbonds NIG Corporate LatAm

Related issues

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Cbonds Valuation
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology. The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
:

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
CBONDS ESTIMATION
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology described here http://ru.cbonds.com/organizations/docdownload/8715.
The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
Quotes are published both anonymously and publicly in the section Bond Quotes by Market Participants: http://cbonds.com/quotes/market/. These quotes are indicative only. Organizations posting the quotes have no obligations to conduct transactions at these prices. To learn the actual current prices, you need to contact the respective organization. Trading floor quotes are available at http://cbonds.com/quotes/.
10/15/2019*** / *** (*** / ***)*** (***)******Archive
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Bond Quotes by Market Participants

Market participantDate and timeBid/ask or last price
(Yield)
BCP Securities10/15/2019***.* / ***.*
(*.** / *.**)
Zurich Cantonal Bank10/15/2019***.** / ***.**
(*.** / *.**)
UCAP Asset Management10/14/2019***.*** / ***.***
(*.** / *.*)
Anonymous participant 1210/11/2019***.**
(*.**)
Anonymous participant 2010/11/2019***.**
(*.**)
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Stock exchange and OTC quotes

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
FRANKFURT S.E.10/16/2019 10:00***.** / ***.* (*.** / *.**)***.*** (*.**)
FRANKFURT S.E.10/15/2019*** / *** (*** / ***)*** (***)******Archive
STUTTGART EXCHANGE10/15/2019*** / *** (*** / ***)*** (***)******Archive
LUXEMBOURG S.E.10/15/2019*** / *** (*** / ***)*** (***)******Archive
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Bond classification

Subordinated
Sinkable bond
Perpetual
Convertible
Structured product
Restructuring
Securitization
Mortgage bonds
Trace-eligible
Covered
Foreign bonds
CDO
Sukuk
Retail bonds
Supranational bond issues
Green bonds
Non-Marketable Securities

Identifiers

ISIN / ISIN RegSUSP1905CAE05
ISIN 144AUS10552TAF49
CUSIP / CUSIP RegSP1905CAE0
Common Code / Common Code RegS107116451
Common Code 144A107108653
CUSIP 144A10552TAF4
CFI / CFI RegSDBFUGR
CFI 144ADBFUGR
FIGI / FIGI RegSBBG006HDMGJ9
WKN / WKN RegSA1VFPQ
WKN 144AA1VFPW
SEDOLBMPGZX4
FIGI 144ABBG006HBSWC9
TickerBRFSBZ 4.75 05/22/24 REGS

Primary placement

Issuer rating on issue date (M/S&P/F)***/***/***
Placement**/**/****
Initial issue price (yield)**.***% (*.***%)
Spread over US Treasuries, bp***.**
Demand*,***,***,***
Settlement Duration*.**

Participants

Bookrunner: Itau Unibanco Holdings, Banco do Brasil, BTG Pactual Holding, Morgan Stanley, Banco Santander
Issuer Legal Adviser (International law): Simpson Thacher & Bartlett
Issuer Legal Adviser (Domestic law): Machado, Meyer, Sendacz Opice
Arranger Legal Adviser (International law): Davis Polk
Arranger Legal Adviser (Domestic law): Pinheiro Guimaraes

Payment schedule

*****

Coupon dateCoupon, %Coupon payment amount, USDRedemption of principal, USD
Show previous
1**/**/*****.***,***
2**/**/*****.***,***
3**/**/*****.***,***
4**/**/*****.***,***
5**/**/*****.***,***
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7**/**/*****.***,***
8**/**/*****.***,***
9**/**/*****.***,***
10**/**/*****.***,***
11**/**/*****.***,***
12**/**/*****.***,***
13**/**/*****.***,***
14**/**/*****.***,***
15**/**/*****.***,***
16**/**/*****.***,***
17**/**/*****.***,***
18**/**/*****.***,***
19**/**/*****.***,***
20**/**/*****.***,******,***
Show following
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Early redemption terms

*****

DateOption typeOption styleBenchmark spread, b.p.Until datePriceRepurchased amount at par, mln
Show previous
**/**/****callMake-Whole Call****/**/****
**/**/****debt repurchase******.**
Show following
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Issue ratings

BRF - Brasil Foods, 4.75% 22may2024, USD

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (foreign curr.)04/01/2019
Moody's Investors Service ***/***LT- foreign currency04/10/2018
S&P Global Ratings***/***Foreign Currency LT02/20/2019
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Issuer ratings

BRF - Brasil Foods

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (local curr.)04/01/2019
Fitch Ratings***/***LT Int. Scale (foreign curr.)04/01/2019
Moody's Investors Service ***/***LT- foreign currency04/10/2018
S&P Global Ratings***/***Local Currency LT09/24/2019
S&P Global Ratings***/***Foreign Currency LT09/24/2019
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Consolidated IFRS reports

year 1 Q 2 Q 3 Q 4 Q
2019
2.11 M eng
2.09 M eng
2018
3.75 M eng
2.69 M eng
2.25 M eng
2.73 M eng
2017
5.17 M eng
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