Brazilian Banco Santos has obtained a US$35m secured revolving export finance facility from a syndication of international financial institutions, according to syndication book runner and lead arranger US ORIX Trade Capital.
The facility was 40% oversubscribed and increased from its original launch amount of US$25m. "The facility oversubscription evidences the market's strong appetite for Banco Santos and this structured finance," ORIX Trade Capital senior VP T. Hernan Narea said.
ORIX Trade Capital was joined by Wachovia Bank and RZB Finance, LLC as arrangers. BayernLB was lead manager with Natexis Banques Populaires and Bladex as managers. The Export-Import Bank of the Republic of China and Banco Comercial Portugues were participants.
