SLC Secures Project Development Loan

Brazil’s SLC Agricola has agreed to a BRL62.3m 2015 loan with Banco do Nordeste do Brasil, a regional development bank. The Brazilian agribusiness company will pay annual interest of 8.50%, though it will receive a discount for full payment by the final maturity date, say company executives. As a result, the all-in rate is effectively 7.23%, they say. The funds will support the development of six farms in the states of Maranhao and Bahia.