June 28, 2018 |
Biosev has secured a $219.8m pre-export financing (PXF) facility from ABN Amro, Credit Agricole, ING, Natixis, Rabobank and Societe Generale.
The 4.75-year PXF is priced between 400bp and 470bp over Libor, depending on where the sugar producer's leverage ratio stands.
Commitment fees are equivalent to 40% of the margin, according to data from Dealogic.
Earlier this month, Biosev's majority shareholder Louis Dreyfus increased its stake in the Brazilian firm to 94% after a BRL3.46bn ($931m) cap
Brazilian sugar company secures $220m from six lenders, just weeks after Louis Dreyfus upped its share capital in the firm