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Seara’s Issuance, Guaranteed by JBS, Raises R$ 3 Billion via CRA for Agricultural Products, Strengthening the Sector.
Seara Alimentos, a subsidiary of JBS, announced this week the issuance of Agribusiness Receivables Certificates (CRA) worth up to R$ 3 billion.
The operation, structured in five series, was created to raise funds intended for the acquisition of agricultural products, mainly corn, essential for the company’s production. The initiative is backed by JBS S.A. and JBS N.V., reinforcing the business’s solidity.
Details of the CRA Operation from Seara
Each certificate has a unit value of R$ 1,000, with the possibility of an additional lot of up to 25% of the initial amount. The backing for the issuance is based on five Financial Rural Product Notes (CPR-Financeiras), all issued by Seara itself.
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The operation was structured by Eco Securitizadora and will be offered to qualified and professional investors. The negotiation will occur in the organized over-the-counter market of B3, without a contracted market maker.
Returns and Maturity Terms
The CRAs are divided into five series, with maturities ranging from 7 to 13 years. The remuneration is between 5.30% and 8% per annum, depending on the chosen series.
- The 1st series provides for semi-annual interest payments.
- The 3rd series has a grace period of 192 months, with amortization in five annual installments.
- The other series will have a single payment at maturity, maintaining semi-annual remuneration until the end of the contract.
The minimum investment is R$ 1,000 per certificate, and resale can only be made to the general public after six months from the end of the offering.
Issuance Calendar
The schedule set by Seara foresees:
- October 6 to 30 – reservation period;
- October 31 – price fixation;
- November 3 – announcement of the allocation results;
- November 5 – financial settlement and beginning of paper trading.
Risk Rating and Investor Security
On September 29, the agency Moody’s assigned a preliminary rating of “AAA.br(sf)” to the CRA issuance. The rating reflects the robustness of the operation’s backing, guaranteed by Seara and JBS, and confidence in the agricultural product sector.
Institutions Involved in the Issuance
The coordination of the operation will be conducted on a “best efforts” basis by large financial institutions, such as:
- XP Investimentos
- Itaú BBA
- Bradesco BBI
- BTG Pactual
- BB-BI
- Daycoval
- Banco Safra
- Genial Investimentos
Importance of the Issuance for the Agricultural Sector
Seara’s initiative reinforces the strategic role of CRA in financing Brazilian agribusiness, especially at a time of high demand for corn, a fundamental input for the food production chain.
With the guarantee of JBS, investors have greater security, and the agricultural sector gains momentum to expand production.
