November 7, 2006

Brazil's soybean producer Imcopa to launch US$100 million in bonds

Brazilian soybean producer Imcopa expects to raise US$100 million from an issue of three-year overseas bonds, the company's chief financial officer, Luiz Cavet, told Dow Jones Newswires on Monday (Nov 6).

"We will be the first Brazilian soybean company to access the international market, and the money raised will be used to finance the acquisition of grains," Cavet said.

Imcopa said the yield on the bonds will be set after an overseas road show, which begins in Asia on Nov. 8 and ends in Miami on Nov 13.

The bond operation is being managed by ING Bank.

Imcopa is a family-owned company based in Parana state and produces non-genetically modified soybeans.