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Marfrig lowers EBITDA in its IPO prospectus

Marfrig has issued a statement to announce changes in its prospectus for its initial public offering of shares, which will give investors who have made reservations the right to withdraw by Friday. The food company has changed the value reported for its earnings before interest, taxes, depreciation and amortization (EBITDA) in the 12 months to September, from R$ 2.362 billion to R$ 2.235 billion.

This makes the ration between the company's gross debt and EBITDA 5.4 times, compared with the 5.1 times that had been disclosed in the prospectus. The ratio of net debt to EBITDA is 4.15 times - but this index was already in the prospectus.

Marfrig has also announced that the bank, BNP Paribas, has been included as a coordinator hired for the IPO. Also working as lead coordinators on the IPO are Bank of America Merrill Lynch, Bradesco BBI, Itaú BBA, BB Investimentos, Deutsche Bank, and Santander.

Information provided by Valor Econômico



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