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Andrews Kurth Kenyon and Dias Carneiro Represent IIC in Dual Currency Loan to Usina Santa Adélia S.A.

December 8, 2017
Washington, DC

On December 1, 2017, Inter-American Investment Corporation (“IIC”), as agent acting on behalf of the Inter-American Development Bank (“IDB”), closed on a dual currency secured A/B loan facility to Usina Santa Adélia S.A. (“Santa Adélia”) in Brazil.  The loan facility comprised an A loan of Reais$97,890,000 to be funded by IDB and a B loan of US$30,000,000 to be funded by participants.

The proceeds of the loan will be used by Santa Adélia exclusively to finance the renovation of its sugar cane plantations, certain capital expenditures and maintenance expenses, and working capital.

Repayment of the loan facility is secured through liens granted in property of Santa Adélia including machinery, equipment and associated personal property, rights over certain sugar cane crops and rootstock and assignments and endorsements of certain insurance policies.

The U.S. based firm of Andrews Kurth Kenyon LLP advised IIC as international counsel and Brazilian legal advice to IIC was provided by Dias Carneiro Advogados.

Andrews Kurth Kenyon Lawyers

Vera Rechsteiner, Partner

Eric Markus, Partner

Siddharth Sethy, Associate

Felipe F. D’Imperio, Foreign Associate

IIC In-house Counsel

Patricia Alves de Toledo

Dias Carneiro Lawyers

Thiago Vallandro Flores, Partner

Gustavo Junqueira, Counsel

Pedro Malvezzi de Araújo, Senior Associate

Murilo Balarin, Associate

About Andrews Kurth Kenyon LLP

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