Coimex closes pre-export

Brazilian trading company Coimex Group has closed a US$25mn syndicated structured pre-export facility via mandated lead arranger and bookrunner Rosemount Global Trade Finance Fund. A number of financial institutions from Germany, South America and Central America joined the facility during syndication.

The facility is structured with Coimex Trading as the borrower, with guarantees provided by Cia Importadora E Exportadora Coimex and Coimex Empreendimentos E Participaoes. It is repayable in quarterly instalments over a three-year term with the first repayment of the principal due 12 months from the date of disbursement.

Coimex will use the funds to purchase sugar, ethanol and coffee, with the intention of exporting the goods to a pre-approved list of offshore buyers.

The borrower is considered one of Brazil's largest trading companies and largest exporter of ethanol from Brazil. Rosemount Global Trade Finance Fund is managed by the New York-based firm Rosemount Capital Management.