Louis Dreyfus to pay down Biosev debt with loan secured with 3.5% Raizen stake

March 1, 2021 |

In Brazil, Bloomberg reports that in an effort to secure the loan needed to cover the remaining $740 million in debt of its former sugar and ethanol arm Biosev, Louis Dreyfus has had to put up as collateral its 3.5% stake in Raizen that it will received as part of the unit’s sale. Louis Dreyfus already has a 1.49% holding in Raizen, the dividends of which will also be used to pay down Biosev’s debt. The cash portion of the sale covered about the same amount of debt service.

Category: Fuels

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