IFC invests US$200 mln in Suzano Petroquimica - Latin America's largest PP producer

15-Dec-05

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is to invest US$200 million in Suzano Petroquimica S.A., the largest polypropylene producer in Latin America and Brazil's second-largest producer of thermoplastic resins. The investment consists of an A-loan of $50 million and a C-loan of $10 million for IFC's own account, as well as a B-loan of $140 million for the account of participant banks IFC's long-term financing will support a number of Suzano's corporate initiatives, including the now completed acquisition of a 50% shareholding in Polibrasil and the debottlenecking of Polibrasil's plants in Mauá and Duque de Caxias. The investment will also support Suzano's corporate restructuring and will provide for debt refinancing, allowing Suzano to solidify its position as one of the leading companies in Brazil's petrochemical sector.