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Finacom Investment House Limited of Malta has acted as advisor to the Imcopa Group in Brazil to arrange a two-year secured export prepayment facility.


The facility represents Imcopa’s first approach to the international syndicated loan market and will finance, on a revolving basis, the warehousing and processing of non-GMO Brazilian soybeans, soy-meal and soy-oil for the crop 2004-05 and 2005-06.

Imcopa, founded in 1969, is the largest soy crusher of Paran State, Brazil’s second largest soybean producer. Its current crushing capacity totals 1.8mn tons per year and represents a market share of over 15% of Paran State exports.

On the advice of Finacom, Imcopa, Brazil mandated HVB Group comprising Vereins -und Westbank and Bayerische Hypo-und Vereinsbank to act as mandated lead arrangers.

The deal raised more than US$90mn during syndication though bank commitments have been scaled back to US$50mn due to the borrower’s reduced funding requirements

The international syndicate comprises Credit Suisse and HSH Nordbank as co-arrangers and Banque Cantonale Vaudoise, Dekabank Deutsche Girozentrale, and RZB Finance as lead managers.

Finacom’s chief executive, Patrick Zrinzo, says: “The diverse lending group is proof of Finacom’s sound standing in the international debt markets, and Malta’s reputation as a serious financial centre. The success of this loan refinancing demonstrates the continuing international banking confidence in Finacom and its clients and in the Brazilian economy. As one of the leading companies in this sector, Finacom is committed to expanding its resources and range of services to keep pace with the rapid transformation and business opportunities in Brazil’s booming economy.”

“The significant oversubscription of the loan in the international banking market, at the senior and general syndication stages, the stature and geographic distribution of the bank group as well as the fine pricing of the loan are further confirmation of Finacom’s strong performance. We will continue to actively support other project financings as well as private sector initiatives,” concludes Zrinzo.