CerradinhoBio raises R$150m expansion loan from IFC

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Brazilian ethanol and biomass-based electricity producer CerradinhoBio has raised a R$150 million ($47.41 million) 10-year direct loan from the IFC to fund the R$270 million expansion of its cogeneration and crushing capacities. The deal signed on 22 July 2016 and was the only offering available to the borrower.

Proceeds will fund the expansion of CerradinhoBio's Chapadao do Ceu mill. Production of bioethanol will be upped by 28%, and the generation capacity of bagasse-based electricity, to be used for its own energy supply, is expected to more than double. Excess power will be exported to the national grid.

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