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Corol – structured financing
23 March 2009
WestLB sweetens the outlook for Corol
Read more:
[sugar]
[ethanol]
[Corol]
[export pre-payment]
[RZ Advogados]
[Landay & Leblang]
[WestLB]
[Brazil]
In this deal, WestLB acted as sole arranger and lender for a $40 million export-backed financing package for Corol Agroenergia Açucar e Alcool (Corol), a medium-sized sugar/ethanol mill owner in Brazil's Paraná State. The financing package comprises first, a two months $10 million bridge loan, second, an eight-year export pre-payment financing (EPF), and third, a swap line, enabling the client to convert the floating Libor rate into an fixed Libor rate, if needed. The deal is a triumphant success story and is well worthy as a Deal of the Year award.
The $10 million bridge loan services the client with the necessary financial flexibility...
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