BRAZILIAN meat exporter and processor Minerva Foods is in the market for a potential $1bn 10 year senior unsecured bond issuance to finance the acquisition of sixteen plants from competitor, Marfrig.
The Anthropocene Fixed Income Institute (AFII) reports that this acquisition will create a beef giant in Brazil, which they say creates clear sustainability and valuation concerns given ongoing regulatory focus on deforestation.
Stéphanie Mielnik is the research director for the Anthropocene Fixed Income Institute – ffinlo Costain asked her to explain what the Institute is – and why it’s interested in the bond market?