Overview

ICBC provides USD 15 million loan to Jalles Machado S.A.

Commitments (Constant USD, 2023)$15,094,444

Commitment Year•2018Country of Activity•BrazilDirect Recipient Country of Incorporation•BrazilSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 1, 2018

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

Jalles Machado S.A.

Implementing agencies

Private Sector

Jalles Machado S.A.

Loan description

ICBC provides USD 15 million loan to Jalles Machado S.A.

Interest type•Unknown

Narrative

Full Description

Project narrative

In May 2018, the Industrial and Commercial Bank of China (ICBC) provided a USD 15 million loan to Jalles Machado S.A., a Brazil-based company producing ethanol, sugar, energy, sanitizing items, yeast, and other organic food products. The loan's borrowing terms and purpose are unclear. The Brazil Central Bank lists the loan registration (ID TA815182) as complete and they had an "early receipt of exports."

Staff comments

The borrower's financial report published in March 2019 might suggest that this loan is collateralized with exports of unspecified Jalles Machado S.A. products (p. 58). The same report mentions CRAs (p. 58)-- these are Agribusiness Receivables Certificates. See here for more information: https://www.mondaq.com/brazil/securitization-structured-finance/754956/brazil39s-new-regulation-on-agribusiness-receivables-certificates-cra