Machado Meyer counsels Proparco on loan to Tereos
Machado Meyer Advogados counseled Société de Promotion et de Participation pour la Coopération Economique S.A., a development agency controlled by the French government (“Proparco”) on a loan to Tereos Açúcar e Energia do Brasil SA
The deal consisted of a loan granted by proparco to Tereos, one of the 5 largest Brazilian producers of sugar and ethanol in the total amount of USD 30,000,000.00 and maturing in November 2032.
The amount will be invested in the construction of biogas plants that will enable Tereos to reduce its CO2 emissions, continuing on its journey to becoming a company with an even more negative carbon footprint, as well as wastewater treatment facilities.
In order to secure the financing, Tereos Brasil has granted, for the benefit of Proparco, a fiduciary assignment governed by Brazilian laws on certain equipment owned by Tereos Brasil located in the city of Severinia, State of São Paulo, at Fazenda Guarani; and a lien governed by New York law on a bank account held by Tereos Brasil into which amounts due to Tereos Brasil under certain export contracts entered into by Tereos Brasil are to be paid.
Machado Meyer had the work led by partner Vitor Fernandes De Araujo (pictured) and lawyer Mateus Maia De Souza.
White & Case LLP was the legal counsel for the other parties.
