LDC Bioenergia Joins IPO Lineup

LDC Bioenergia, the Brazilian sugar, ethanol and bioenergy unit of Louis Dreyfus Commodities, has filed for an IPO, according to the CVM. It plans the sale of primary shares and of secondary shares owned by an investment vehicle tied to Louis Dreyfus. It does not indicate the specific amount to be raised, or the timing, though a filing this week would imply a launch in mid to late June. LDC is raising funds for its expansion plan and to repay debt. The issuer has 13 plants in operation, with 40m tons of processing capacity and 1,000 megawatts electric generation capacity, and plans to grow in the areas of sugar and ethanol production and energy generation. Bradesco and JPMorgan are global coordinators on the sale, and Banco do Brasil, Banco Votorantim, Itau and Santander are bookrunners. Starting operations in 2000, the issuer has grown through acquisitions, most recently that of Santelisa Vale in 2009.