Brazil Coruripe gets USD 370m to refinance debt - report
Sep 10, 2014 - Brazilian sugar and ethanol producer Coruripe obtained USD 370 million (EUR 286.7m) last week to refinance part of its debt with banks, president Jucelino Sousa told Valor PRO, the real-time information service of business daily Valor, on Monday.
The company negotiated the refinancing with Rabobank, Itau BBA and Santander (BVMF:SANB3). In the first case, Rabobank led a syndicated loan of USD 190 million with a five-year term.
The sum helped refinance all of Coruripe's debt maturing in the current 2014/2015 crop year and includes some debt due 2015/2016.
The company is based in Alagoas state, with four additional units in Minas Gerais and a total crushing capacity of 13.5 million tonnes of cane a year.
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