Pre-export loan facility for Brazilian meat producer

Hunton & Williams recently closed a US$50 million pre-export loan facility for Independência Alimentos Ltda., the third largest meatpacker in Brazil. All amounts borrowed by Independência under the facility will be repaid with receivables generated by the company?s export of meat products. Hunton & Williams acted as transactional counsel in respect of the deal.

?This is an important transaction for Independência Alimentos in that it will help the company raise funds to finance its export of goods which is a major facet of its operation,? said Allen D. Moreland, Hunton & Williams attorney who advised the Brazilian meatpacker. Moreland was assisted in completing this transaction by associates Enrico Bentivegna, Juan Azel, Dana Gryniuk and Ben Wolkov.

For the past two years, Hunton & Williams has seen a significant increase in the number of international financing transactions it has handled from its Miami office. ?More and more, we are seeing major Latin American financing transactions of this type being handled by our Miami-based lawyers,? Moreland said.

Machado, Meyer, Sedacz e Opice ? Advogados, through Nei Zelmanovits (partner) and Laura Sabino (associate), acted as Brazilian counsel on the transaction. Banco Santander do Brasil S.A. - Cayman Islands Branch served as administrative and collateral agents to the lenders. Principal Indusval Fixed Income House, LLP, Provident Group Limited and Deutsche AG served in the capacity of arrangers.

Independência Alimentos Ltda. is the third largest exporter of beef products in Brazil. It currently exports meat to the European Union, Asia, and the Middle East. Independência oversees the production of meat from the raising of cattle to its final export. Processing plants are located in the Brazilian states of Mato Grosso do Sul and São Paulo.