Profertil Gets IIC Loan

Argentinean fertilizer company Profertil plans to secure a $70m, 5-year A/B loan from the Inter-American Investment Corporation (IIC). Proceeds will be used to finance an industrial plant, storage silos, and a jetty on the Parana River, in the municipality of Puerto General San Martin, Santa Fe Province. The IIC will syndicate part of the loan to attract other banks to provide Profertil with financing on the same terms. The IIC declines to disclose the interest rate. Profertil did not respond to inquiries. The loan will consist of an $8m A loan and a $62m B loan.