Photographer: Balazs Gardi for Bloomberg Businessweek

An Emerging Market Beef Bond Is About to Escape the Herd

Moving to developed markets could save on financing, Citi says.

JBS SA began as a humble butcher shop in Anapolis, Brazil and grew to become the world’s biggest producer of beef and chicken. With operations already spanning Argentina to Australia, it recently announced a restructuring that may see it come even looser from its Brazilian moorings.

The company announced plans to create a New York-listed unit earlier this month, and said it may shift its corporate registration to Ireland with the aim of saving on financing costs. 

“JBS doesn’t have the same access to capital as other global players,” Wesley Batista, the company's CEO, said in an interview with Bloomberg News this week. "We’re seeking a structure that better reflects the company JBS has become."

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