AWARDS: Trade Finance

AWARDS: Trade Finance

Corporate & Sovereign Strategy Brazil

When Fibria added $400 million in September 2015 to a $500 million term loan facility, the Brazilian pulp and cellulose producer went beyond increasing the size of the transaction. It also added five new lenders, underscoring the company as a bright spot in Brazil, where credit risk has soared and uncertainty has dominated markets.  The original transaction, a $500 million triple-tranche pre-payment loan, was closed in December 2014 with a syndicate of eleven banks led by BNP Paribas and Natixis. The deal was backed by cash flows from contracts with buyers of Fibria’s eucalyptus cellulose.  A few months later, the company began seeking financing for its $2.2 billion expansion to the Três Lag

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