January 14 (Renewables Now) – Argentine biofuel producer Bioetanol Rio Cuarto (Bio4) will turn to the country’s capital market to finance the doubling of its bioethanol production capacity to 400,000 litres per day, local media reported last week.
Bio4 plans to issue USD 2.6 million (EUR 2.3m) in US dollar-denominated 18-month debt instruments via a public offering, the company said in a filing with the Argentine securities commission.
Bio4’s current production capacity is 200,000 litres per day, which the company wants to double expecting an increased demand for bioethanol, chairman Manuel Ron told Argentine business newspaper Ambito Financiero.
The latest launch will mark Bio4’s second bond issue after the company used the proceeds from the first one in 2012 to build the industrial plant. Earlier plans to seek financing on the local capital market fell through due to the economic crisis in Argentina.
(USD 1.0 = EUR 0.87)