Davis Polk advised the initial purchasers in connection with BRF GmbH’s $500 million offering of 4.350% senior notes due 2026, which were issued pursuant to Rule 144A and Regulation S under the Securities Act. The notes are unconditionally and irrevocably guaranteed by BRF GmbH’s parent company, BRF S.A.

Davis Polk also advised the dealer managers in connection with BRF’s offer to purchase for cash any and all outstanding 7.250% senior notes due 2020 issued by its subsidiary BFF International Limited and guaranteed by BRF S.A., and 5.875% senior notes due 2022 issued by BRF S.A. In all, $32.18 million in aggregate principal amount of 2020 notes outstanding and $54.21 million in aggregate principal amount of 2022 notes outstanding were validly tendered and accepted.

Headquartered in São Paulo, Brazil, BRF is one of the largest food companies in the country, with a focus on the production and sale of poultry, pork, beef cuts, milk, dairy products and processed food products. BRF distributes its products to customers in Brazil and in more than 120 other countries.

The Davis Polk corporate team included Manuel Garciadiaz, Drew Glover and Lourenço Lopes-Sabino. The tax team included Po Sit and Peter Benesch. Members of the Davis Polk team are based in the São Paulo and New York offices.

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