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JBS Communicates Financial Amendments and Registration Statement at its U.S. Chicken Division,
Pilgrim's Pride Corporation
JBS SA (JBSS3) communicates to its shareholders and to the market in general that a subsidiary indirectly controlled by JBS SA and listed in the
U.S. under the regulation of the United States Securities and Exchange Commission (SEC), Pilgrim's Pride Corporation (PPC) today filed a
Communication (8K) with the SEC informing of certain amendments to its financial structure. The complete document including attachments can be
accessed on the SEC web-page or at
www.pilgrims.com
.
Furthermore, PPC also filed an S-3 with the SEC today detailing the Registration Statement regarding the Rights Offering at PPC announced on
December 08, 2011. This S-3 is also available on the SEC web-page or at
www.pilgrims.com
.
Upon the completion of the rights offering and as part of the CoBank Credit Facility amendments, JBS will no longer be required to make a further
USD50 million loan to PPC and furthermore, PPC is allowed to prepay JBS the principal and interest on the USD50 million facility provided by JBS in
June 2011.
JBS SA believes that these financial amendments at Pilgrim's Pride as well as the Registration of the Rights Offering will strengthen the
Company's financial position as 2012 approaches with the perspective of the recovery of the chicken industry in the U.S. as exports continue to
expand and domestic consumption begins to recover.
São Paulo, December 19th, 2011.
Jeremiah O'Callaghan
Investor Relations Officer