Votorantim Industrial is set to secure a $2.65 billion syndicated loan led by 10 banks, Bloomberg reports. The Brazilian company’s loan is divided into two parts, a $1.15 billion export prepayment facility and a standby revolving credit line worth $1.5 billion. The trade-related loan will be due in seven to eight years, while the standby facility has a five-year maturity. The banks that led the loan include Banco Bilbao Vizcaya Argentaria, Bank of America, BNP Paribas, Credit Agricole, HSBC Holdings, JP Morgan Chase, Banco Santander and Societe Generale.
Click here for the story from Bloomberg.