NEW YORK, April 11, 2011 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL) today announced that its corporate finance division, INTL Provident Group, arranged a US$70.0 million secured export finance facility, a two-year, two-tranche amortizing term loan for its customer, Brazilian sugar and ethanol processor Sao Fernando Acucar e Alcool.
INTL Provident Group served as the mandated lead arrangers and bookrunner. The term loan, with a final maturity of December 2012, has a repayment schedule matching the Sao Fernando's sugar exports schedule of April to December.
Steve Carlson, CEO of INTL Provident Group, said, "With one of the fastest growing economies in the world, and their role in the commodity sector, Brazil represents a tremendous opportunity for INTL Provident Group. We were delighted to play a role in helping a company of Sao Fernando's stature secure financing for their operations."
"We are pleased with the syndication and the demand around the credit. The original deal was upsized from US$60.0 million to US$70.0 million with the participation of six banks," said Ana Firmato, Managing Director in Brazil of Structured Trade & Commodity Finance for INTL Provident Group.
Rubens Camara, CFO of Sao Fernando's shareholder Grupo Bertin, said, "Sao Fernando's debut in the syndicated loan market makes it possible for the company to reach out for different funding options. This financial facility will be used to improve our capital structure and provide working capital necessary for growth. The company plans to access the export financing market once again this year."
Sao Fernando, one of Brazil's state-of-the-art sugar cane crushers and ethanol producers, is located in Dourados, Mato Grosso do Sul and is owned, equally, by Heber Participacoes S.A. (Grupo Bertin) and Sao Marcos Energia e Participacoes Ltda.
About INTL FCStone Inc.
INTL FCStone Inc. provides execution and advisory services in commodities, currencies and international securities. INTL FCStone's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 10,000 commercial customers in more than 100 countries through a network of offices in eleven countries around the world. Further information on INTL FCStone Inc. is available at www.intlfcstone.com.
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