CentAm Sugar Specialist Chases Loans

Pantaleon, a Guatemalan sugar producer and among the largest of its kind in Central America, is in the process of raising $90m in various credit facilities to finance its expansion as sugar prices climb, say executives familiar with the process. The company is heard to have clinched a $20m 2-year secured export facility directly with Deutsche Bank. The loan, which is collateralized by sugar export contracts, is heard paying north of 300bp over Libor. Another 2-part A/B facility led by the IFC is also rumored in the works. A $35m 12-year A loan is pays close to 550bp over Libor, while a $35m B loan being considered by other multilaterals is heard offering around 500bp over, notes an executive close to Pantaleon.