Bahia Cellulose secured trade loan launched

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23 August 2010

Santander and WestLB launch senior syndication of secured trade loan for Brazil’s Bahia Cellulose.

Santander and WestLB acting as joint mandated lead arrangers (MLAs) have today launched senior syndication of a $500 million secured trade finance loan for Brazil’s Bahia Specialty Cellulose (BSC - formerly Bahia Pulp).

The loan is structured as a pre-export finance (PXF) facility with some enhancements primarily related to security. The deal is split between a 5-year tranche which will carry a margin of 3.875% and a 7-year tranche with a margin of 4.25%.

The...

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