TRADE FINANCE - Marking a Milestone

Jan 19, 2012

Bahia Specialty Cellulose

Bahia Specialty Cellulose faced challenging conditions to obtain $470 million in pre-export financing in late 2010, with lending appetite still suffering the effects of the 2008-2009 credit crisis.

However, with Brazil being such an attractive market, says Claudio Cotrim, financial director at parent company Sateri, many banks and funds saw it as a way to gain exposure to Brazil.

"The secured package worked well for us and the lenders," Cotrim says of the loan, which...

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