SAO PAULO (Reuters) - Meatpacker JBS SA said on Tuesday it had reached a deal with banks to stabilize the terms of some 20.5 billion reais ($6.5 billion) of debt owed by its JBS Brasil unit, representing about 93 percent of the loans' principal.
JBS said in a securities filing that the deal would extend the original terms of loans for 12 months and the company would continue paying interest, along with four installments worth 2.5 percent of the principal. A separate deal with the so-called Itaú Unibanco Group covered about 1.2 billion reais of loans, with JBS renewing 60 percent of the debt and paying the rest as contracted.
