Minerva shops syndicated loan

Minerva shops syndicated loan

Loans Debt Structured Finance Brazil United States

Brazil's Minerva is shopping a $150m syndicated pre-export facility, a source close to the deal told LatinFinance.The sole bookrunner ING launched the deal in São Paulo and New York on Monday and is looking to close the deal in October. The minimum commitments start at $30m, the source said.The three-year loan pays 245bps over Libor. It begins amortizing after 18 months and has an average life of 2.25 years, the source said. The food company's debt currently has an average maturity of five years

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