LATIN AMERICA

摘要

Sugar, ethanol and bioenergy producer biosev's 3.5-year US$210m secured pre-export facility is in the market via Credit Agricole, ING and Natixis. The deal comes at a tough time for sugar companies, which have been struggling in the face of falling prices. Biosev, however, is owned by Louis Dreyfus, one of the world's largest agricultural trading firms, and this will bring substantial support to the credit. Pricing is based on a leverage grid, paying 475bp over Libor for leverage between 3.0 and 3.5. The leads are offering 110bp upfront for US$50m tickets as mandated lead arrangers, 95bp for tickets of US$35m as arrangers, 80bp for tickets of US$25m and 70bp for tickets of US$10m as participants.