Orix Trade Capital (OTC) has completed the syndication of a US$30mn secured pre-export finance facility for Brazilian petrochemical company Braskem. The facility has a tenor of 18 months and is secured by future dollar export receivables flowing into an offshore collateral account.
The facility was launched on July 14, with syndication closing on August 8. Documentation was signed on August 19. OTC acted as arranger and bookrunner. Lead managers are HSH Nordbank, <
The margin was around 462.5bp over Libor, while fees ranged from 37.5bp to 62.5bp.
OTC is part of Orix USA Corp, a subsidiary of Orix Corp, an integrated financial services group based in Tokyo with US$49bn of assets.