Brazil Manufacturer Gets Line for US Plant

Providencia Industria e Comercio, a Brazilian manufacturer of plastics and textiles, has obtained credit lines worth $115m. A $95m long-term revolver from HBSC and WestLB will be linked to Libor and pay about 5% all-in, according to an IR official who declines to be more specific. It will be supplemented by $20m in short-term credit. The financing will help cover construction of a $120m US production facility. Providencia is controlled by a consortium led by AIG Capital Partners and raised BRL468.7m in a 2007 IPO.