January 23, 2014
Sugar and ethanol producer Vale do Tijuco Acucar e Alcool has raised BRL120
Sugar and ethanol producer Vale do Tijuco Acucar e Alcool has raised BRL120m ($50.6m) through a private placement in Brazil’s local market. The 2-year note pays 3% over the DI, and was arranged by Itau BBA. The deal comes as its peers also look for funding. Usina de Acucar Santa Terezinha was heard earlier this month to be in the market for a $100m 5-year pre-export loan, while Nardini Agroindustrial sold a BRL120m securitization in December, which also pays 3% over the DI.