Meat Giant JBS Says Investor Demand for Its Bonds Undercuts ESG Concerns
JBS NV signage at the New York Stock Exchange (NYSE) in New York on June 25.
Photographer: Michael Nagle/BloombergJBS NV’s New York listing was met with fierce opposition from activist groups and politicians over the meat producer’s ESG record. Many investors, however, seem willing to look the other way.
A $3.5 billion bond sale earlier this week drew demand totaling five times the offering, slashing borrowing costs and providing strong evidence of investors’ confidence in JBS, Chief Financial Officer Guilherme Cavalcanti said Wednesday during a conference with journalists in New York.