Lead arrangers Banco do Brasil, Bradesco, Bladex, Deutsche Bank and Ita and Societe Generale as arranger have been mandated to arrange a US$400mn three-year supplier’s credit unsecured facility for Brazil’s Braskem.
The deal, an import note revolving discount programme, is a committed supplier’s credit facility with a three-year availability period and permits Braskem’s suppliers to finance to Braskem a significant portion of its imports for periods of up to one year.
Created in August 2002, Braskem is Latin America’s largest petrochemical producer and one of the three largest publicly-owned industrial companies in Brazil.
Braskem was formed by the merger of the petrochemical assets of the Odebrecht and Mariani groups. Braskem is the successor to Copene, and the company has consolidated its assets with those of OPP, Trikem, Proppet and Nitrocarbono. The company incorporates first and second generation operational activities.Main product lines include polyethylene, polypropylene, PVC, ethylene, propylene and benzene.