IFR US ECM Pricings
JBT Marel (US, food processing equipment) ─ $500m 5y cvt priced at 0.375%, up 32.5% versus 0.5%-1% and 27.5%-32.5% marketing. GS, WF. Pre-funding 0.25% CB maturity in May 2026. Capped call to $283.42, a 100% premium.
Smithfield Foods (US, food processing) ─ $408.2m FO. 19.5m shares (Secondary) at $23.25 versus $24.24 last sale and $25.51 at launch. MS, BOFA, BARC. GS, CITI, BNPP. Upsized from 16m shares. WH Group is the selling shareholder. WH chairman Long Wan indicated for 1.8m shares sold in the offering.