Brazil-JBS-Friboi Bonds sold like Hot Cakes.

BRAZIL-JBS-SA BOND SUCCESS.

JBS S.A. said it raised the aggregate principal amount of its bond issue due 2014 to $700 million, more than it originally intended.

The company said heavy demand prompted it to raise more than the $400 million the company initially announced.

Due in May 2014, the bonds have a coupon rate of 11.625 percent.

JBS said it will use the proceeds to balance debt with sales and improve short-term liquidity.

"Given the fact that JBS is operating in the US for under two years and in the present financial environment, we feel that the strong demand for these Notes is a measure of how far we have progressed," CEO Joesley Batista said in a statement. "This is our first issuance by our US subsidiary, and we are pleased to see the confidence that the financial community has demonstrated in our work. We plan to continue to operate efficiently in our global production platform, and the funds raised will help us reach that goal."