Lacfin to Offer $150m in Financing to Sugar Industry

Lacfin Holdings, a lender owned by Reservoir Capital, has set up a special purpose vehicle to provide financing to sugar and bioenergy companies and exporters in Brazil, Mexico and Central America. The vehicle will have $150m to lend. Of the $150m available to loan, Lacfin has obtained $75m from an IDB loan and the remaining $75m comes from Lacfin’s own resources, the IDB says. An IDB spokesman would not disclose terms of the loan to Lacfin. Rolando Perez, CEO of Lacfin, tells LatinFinance that his company, which has made loans worth more than $1bn since 1995, will offer financing for up to 5 years under this program. He adds that financing terms will be established on a case by case basis.