Copersucar SA, the Brazilian sugar and ethanol trader, will receive a 500 million-real ($217.7 million) loan from state development lender Banco Nacional de Desenvolvimento Economico e Social to store renewable fuel.
The funds will be disbursed by Banco Itau BBA, Banco Santander SA, Banco Bradesco SA and Banco Safra SA, Rio de Janeiro-based BNDES said today in an e-mailed statement.
Copersucar traded 4.5 billion liters (1.2 billion gallons) of ethanol during the last harvest season, about 20 percent of the country’s total production, according to the statement.
BNDES will furnish the funds from its so-called PASS credit line, the bank said.
To contact the editor responsible for this story: Reed Landberg at firstname.lastname@example.org