Braskem SA, Latin America's largest chemical company, secured a five-year, $725 million loan guaranteed by future exports to refinance credits used to help purchase part of the Ipiranga oil and petrochemicals group.
Braskem will pay the London interbank offered rate plus 1.75 percentage points a year, the company said in a statement to Brazil's securities and exchange regulator. In the first six months, the loan will use a different base rate of 5.016 percent, locking in a rate of 6.766 percent, the statement said. Visit bloomberg>->>
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