Açúcar Guarani, a Brazilian producer of sugar and ethanol, borrowed a US$20mn pre-export loan from the French bank Natixis due in 2011. Guarani also borrowed about US$167mn from a subsidiary of Tereos, a sugar producer based in France.
The Tereos credit, which totaled two loans in the amounts of US$137.5mn and 20mn euros, was lent by its subsidiary Berneuil Participations. Tereos has a majority stake in Guarani.
Reynaldo Benitez is chief financial officer of Açúcar Guarani and Jacyr Costa Filho is the company’s president.
Also, Guarani lent US$7.5mn to the sugar producer Companhia do Sena. Guarani and Companhia do Sena own a sugar mill in Mozambique.
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