BNDES, the Brazilian development bank, and Banco Internacional Del Peru, known as Interbank, signed a deal to jointly fund the exports of Brazilian equipment to Peru. The exports may total as much as $50 million. Interbank will finance Peruvian importers and BNDES will fund the Brazilian exporters.
JBS, the Brazilian meatpacker, raised its stake in Pilgrim’s Pride to 75.3 percent from 68 percent, after acquiring $107 million of shares.
Tarpon sold its 11.8 percent stake in Arezzo, a shoe retailer. Tarpon was a stockholder in Arezzo for over four years. Arezzo’s market cap is R$2.6 billion ($1.4 billion).
Itaú Unibanco, the Brazilian bank, sold $1.25 billion worth of notes due 2022. Itaú, Bank of America Merrill Lynch and JP Morgan acted as managers for the issuance. The notes were issued at par to yield 5.65 percent. Moody’s rated the notes Baa1, which compares with BBB and Standard & Poor’s.
Brazil’s agriculture ministry and BNDES, the development bank, earmarked R$500 million ($270 million) in loans for medium-sized farmers. Interest on the loans is 6.25 percent per year.
Insurance broker ZPS, headquartered in São Paulo, was acquired by Brasil Insurance Participações e Administração for R$16.1 million ($8.6 million). The acquisition will be paid 50 percent in cash and the remainder in Brasil Insurance stock.
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