ICBC provides USD 15 million loan to Jalles Machado S.A.
Commitment amount
$ 16347746.21818015
Adjusted commitment amount
$ 16347746.22
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Brazil
Sector
Agriculture, forestry, fishing (Code: 310)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
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."
Additional details
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
Number of official sources
4
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Jalles Machado S.A. [Private Sector]
Implementing agencies [Type]
Jalles Machado S.A. [Private Sector]