November 14, 2018 / 12:34 PM / 6 months ago

JBS says saves $300 mln in annual interest payments

SAO PAULO, Nov 14 (Reuters) - The world’s largest meat-packing firm JBS SA has paid down $4.3 billion of debt in the year through September, allowing it to save $300 million in annual interest payments, the company’s management said on Wednesday.

Speaking in a conference call to comment on third quarter results, JBS executives vowed the company would stick to a strict financial discipline while maintaining a comfortable liquidity position. JBS has about 20 billion reais in cash and available credit lines, seven times the value of its short-term debt, they said. (Reporting by Ana Mano Editing by Chizu Nomiyama)

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