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Presentation jbs bonds fixed income ingl

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  • 1. JBS S.A.Debt Issuance October 2012
  • 2. Debt Securities Issued Description Principal Total Term Coupon Maturity2016 Notes: JBS S.A. USD 300 MM 10 years 10.500% p.a. Aug, 20162016 Notes: Bertin USD 350 MM 10 years 10.250% p.a. Oct, 20162014 Notes: JBS USA USD 700 MM 5 years 11.625% p.a. May, 20142018 Notes: JBS S.A. USD 900 MM 7.5 years 8.250% p.a. Jan, 20182018 Notes: PPC USD 500 MM 8 years 7.875% p.a. Dec, 20182021 Notes: JBS USA USD 650 MM 10 years 7.250% p.a. Jun, 20212020 Notes: JBS USA, LLC USD 700 MM 8 years 8,250% p.a. Feb, 2020 JBS S.A. / JBS USA Agency Scale Rating Outlook Last Update Fitch Global BB- Negative 08/16/2012 Moody’s Global B1 Stable 12/06/2011 Standard & Poors Global BB Stable 11/04/2011 Pilgrim’s Pride Agency Rating Outlook Last Update Moody’s B2 Negative 11/16/2011 Standard & Poors B Negative 08/22/2012 PAGE 2
  • 3. Corporate Structure and Guarantors USD350mm Notes due 2016 (ex-Bertin) USD300mm Notes due 2016 JBS S.A. USD900mm Notes due 2018 JBS Hungary Holdings Kft JBS USA Holdings USD500mm Notes due 2018 75.0% Pilgrim’s Pride 100.0%JBS USA Finance, Inc. JBS USA, LLC USD700mm Notes due 2014 USD650mm Notes due 2021 USD700mm Notes due 2020 100.0% 100.0% 100.0% JBS USA Beef JBS USA Pork JBS Australia 100.0% JBS Five Rivers Bond Guarantor Notes 2016 - JBS S.A. JBS Hungary, JBS USA Holdings, JBS USA and Swift Beef Company Notes 2016 - Bertin JBS Hungary Notes 2014 - JBS USA JBS, JBS Hungary, JBS USA Holdings and all JBS USAs U.S. restricted subsidiaries Notes 2018 - JBS S.A. JBS S.A., JBS Hungary Notes 2018 - PPC Pilgrim’s Pride Corporation of West Virginia, Inc. Notes 2021 - JBS USA JBS, JBS Hungary, JBS USA Holdings and all JBS USAs U.S. restricted subsidiaries Notes 2020 - JBS USA LLC JBS S.A., and each of wholly-owned U.S. restricted subsidiaries PAGE 3
  • 4. Debt Profile2Q12 Net debt to EBITDA was 4.27x.The Company ended the quarter with R$5.475 billion in cash or cash equivalent, which represents more than 110% of short-term debt.The percentage of short term debt decreased from 27% in 1Q12 to 23% in 2Q12 Leverage ST / LT Debt Profile 1500 4.30 4.27 28% 72% 1300 4.04 4.00 4 3Q11 3.60 1100 900 3 4Q11 28% 72% 700 2 1Q12 27% 73% 500 300 1 100 2Q12 23% 77% -100 2Q11 3Q11 4Q11 1Q12 2Q12 0 . Leverage EBITDA Short Term Long Term .Source: JBS PAGE 4
  • 5. Debt Maturity Schedule and Profile Net Debt: 15,276.9 (R$ million) Short Term Net of Cash 2013 2014 2015 2016 2017 2018 2019 and after 656 169 883 1,381 2,567 2,738 3,726 4,469 Breakdown by Currency and Company Bonds / Other JBS S.A. Subsidiaries 2Q12 57% 43% Bonds Other 2Q12 37% 63% 2Q12 R$ 25% USD 75%Source: JBS Financial Statements 2Q12 PAGE 5