Brazil's Banco Fibra Raises $135 Million From Syndicated Loan

29th Jul 2010 18:13

SAO PAULO (Dow Jones)--Small Brazil bank Banco Fibra S/A raised $135 million through a syndicated loan arranged by the International Finance Corp., a member of the World Bank Group, the IFC said Thursday in a press release. The proceeds will be used to support diversification of Banco Fibra's international funding sources and help expand its services for small and medium-sized enterprises in Brazil. "The syndication, jointly arranged with Banco Itau Europa and Banco Santander, consists of $15 million in loans from the IFC's account and two tranches of syndicated loans from a consortium of 11 international banks: a dollar-denominated loan totaling $96 million and a euro-denominated loan totaling EUR20 million. Other participant banks include Banco Itau Europa, Banco Santander, ING, Citibank, Commerzbank, Banca Intesa, Banco Security, BAC Florida, Banco Espirito Santo, Oberbank, and HSBC," the IFC said. Fibra was founded in 1988 and is controlled by the Steinbruch family, which has interests in the textile, steel and real estate sectors. -By Rogerio Jelmayer, Dow Jones Newswires; 5511-3544-7071; [email protected] (END) Dow Jones Newswires July 29, 2010 13:13 ET (17:13 GMT)