Biosev in Talks With Banks for $210 Million Loan to Refund Debt

Sept. 24 (Bloomberg) — Biosev SA, the Brazilian sugar and
ethanol producer controlled by Louis Dreyfus Holding BV, is
seeking to raise $210 million loan, according to a person
familiar with the transaction.

The company intends to use the funds to refinance existing
debt and the deal should close within five to six weeks, said
the person, who asked not to be named because he’s not
authorized to speak publicly. It expects the 3 1/2-year loan to
have an interest rate of 4.75 percentage points over the London
interbank offered rate, or Libor.

The Sao Paulo-based company reported adjusted net losses of
148.5 million reais ($62.3 million) in the first fiscal quarter
of 2015, according to results released Aug. 14. Biosev suspended
operations in one of its units and cut 20 percent of its
executive jobs this year as it reviewed its business plans.

Officials at Biosev’s press office didn’t reply to a phone
call and an e-mail seeking comment. Natixis, Credit Agricole SA
and ING Groep NV are the banks coordinating the deal.

To contact the reporter on this story:
Filipe Pacheco in Sao Paulo at

To contact the editors responsible for this story:
Brendan Walsh at
Will Wade, Carlos Caminada

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us