Biosev locks in PXF debt

Biosev locks in PXF debt

Loans Structured Finance Brazil

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

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