LLX Minas Rio closes financing agreements with BNDES
Thursday, 29 Jan 2009
LLX Logística SA, pursuant to article 157 of Law 6,404/76 and CVM Instruction no. 358/02, hereby announces that its subsidiary LLX Minas Rio Logística Comercial Exportadora SA executed the definitive financing agreements with Brazilian Development Bank and certain other financial institutions for the LLX Minas Rio project, pursuant to the terms of the BNDES formal Board approval that was disclosed in the Material Fact published by LLX on October 2nd 2008.
The financing agreements amount to BRR 1.321 billion, having a total amortization schedule of 12 years and two and a half years grace period. The transaction was structured as project finance with a debt/equity ratio of 73:27. From that total amount, 50% will be disbursed as a BNDES direct loan, while the other 50% will be on lending by Unibanco and Itaú, two leading financial institutions in Brazil.
With the completion of this phase, LLX Minas Rio is now fully funded to carry out its investment plan, thus enabling the handling of iron ore from Anglo American mines in the State of Minas Gerais, the anchor project for Açu Super Port.
