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Brazil's JBS prepays debt to free up collateral

SAO PAULO, June 19 (Reuters) - Brazil's JBS SA has prepaid $700 million of debt to Banco Santander Brasil SA , Banco Bradesco SA, Banco do Brasil SA and Bank of China, according to a statement of the company's investor relations department.

By prepaying the debt, JBS freed up undisclosed collateral and reduced average maturity to 6 years. JBS still owes these banks $1.7 billion, the company added. (Reporting by Tatiana Bautzer; Editing by Sandra Maler)