BRAZIL: BNDES lends Santa Terezinha US$115 million for cane

Published: 05/10/2012, 8:13:52 AM

Banco Nacional de Desenvolvimento Economico e Social, Brazil's state development bank, will lend the sugar-cane processor Usina de Acucar Santa Terezinha Ltda. BRL226.2 million (US$115 million) to develop crops, according to Bloomberg.

Santa Terezinha will use the funds to plant 9,000 hectares of new fields and replant 58,000 hectares of old ones, in the state of Parana, the Rio de Janeiro-based lender said today in an e-mailed statement. The funds will be disbursed by Banco do Brasil SA, Banco Itau BBA and Banco Santander SA.