November 8, 2013 (New York, São Paulo) – Global law firm Proskauer advised Rabobank Curaçao N.V. as lead arranger and Banco Rabobank International Brasil S.A. as administrative agent in connection with a US$250 million syndicated export prepayment finance agreement with Grupo André Maggi, the world’s largest private soybean producer.
The syndicate of lenders comprises Rabobank Curaçao, Corporación Andina de Fomento, KfW IPEX-Bank, Bank of Nova Scotia, Banco Latinoamericano de Comercio Exterior (BLADEX), Hinduja Bank (Switzerland), Société Générale and Abu Dhabi International Bank. The loan, made to Amaggi Exportação e Importação Ltda., is secured by a pledge of certain export receivables.
Rabobank Brazil is the country’s leader in agribusiness finance, serving corporate clients in the food sector as well as farmers. Headquartered in São Paulo, the bank has another fourteen branches in the states of Bahia, Mato Grosso, Mato Grosso do Sul, Minas Gerais, São Paulo, Goiás, Maranhão, and the Federal District.
André Maggi Group was founded more than 30 years ago and operates in all regions of Brazil as well as Holland, Norway and Poland. It is engaged in agricultural and soybean seed production, origination, processing and commercialization of grains, fertilizer, energy and fluvial transport.
Proskauer’s deal team was led by Proskauer Latin America Group Partner Fabio Yamada and included Partner Mark Biros (Financial Services) and Associates Michael McCourt (Corporate) and Alberto Campos (Corporate).
Earlier this year, Fabio Yamada and Michael McCourt also advised Rabobank Brazil in the establishment of a revolving credit facility to American Sugar Refining (the makers of Domino Sugar), and Rabobank Brazil and BLADEX in a US$50 million export prepayment club deal to Cooperativa Agroindustrial Lar.
Proskauer’s Latin America Group advises a broad range of clients headquartered and doing business in the region. Services include mergers and acquisitions counseling for acquirers and targets; capital markets advice for issuers and underwriters in securities offerings, including initial public offerings and debt offerings; and syndicated lending, project finance, securitization and prepayment of exports transactions for financial institutions, borrowers and sponsors. The group also advises Latin American companies on U.S. Securities and Exchange Commission-reporting obligations and Sarbanes-Oxley compliance matters.
Opened in 2007, Proskauer’s São Paulo office has earned a reputation as a go-to firm for corporate work, including banking and finance, capital markets, M&A and infrastructure/project finance.