August 28, 2018 / 10:28 AM / a year ago

Brazil's Marfrig sets new debt metric targets

SAO PAULO, Aug 28 (Reuters) - Brazilian meat packer Marfrig Global Foods SA has amended its shareholders’ agreement, introducing new debt metric targets to reduce its leverage, according to a securities filing late on Monday.

Under the amended agreement, Marfrig aims to post a consolidated net debt/adjusted consolidated EBITDA ratio equal to or below 2.5x by end-2018 and 3.5x at the end of each subsequent quarter, the filing said.

If the company fails to meet the new targets, it will be barred from making certain types of investment and distributing dividends above the mandatory legal minimum, the filing said. (Reporting by Ana Mano; editing by Jason Neely)

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