Biosev announced the closing of a three-year revolving ACC credit facility in the amount of $440 million. The mandated lead arranger and coordinating bookrunner of the transaction was ING Bank. Other major participants were ABN AMRO Bank, Banco Latinoamericano de Comercio Exterior – BLADEX, Rabobank, BNP Paribas and Societe Generale.

The final commitment of the facility exceeded twice the initial amount due to the increased demand by the 10 banks involved in the syndicate. The transaction bears interest at a rate of LIBOR plus 4.4% per annum, equivalent to approximately 4.9% per annum.

“Biosev reaffirms its commitment to lengthening its debt maturity profile and reducing its financial leverage,” Paulo Prignolato, Biosev CFO, said. “This transaction demonstrates the strength of our relationship with the banking community and confirms the quality of our business and operations. It is also a sign of the market’s confidence in our recently announced initiatives, already disclosed to the public, which are associated with our 2014 Business Plan.”

Biosev is the world’s second largest sugarcane processor, with 11 industrial units strategically located in four Agro industrial Clusters in Brazil.