White & Case Secures $3.2B Loan Deal For Braskem Idesa

Law360, New York (December 20, 2012, 3:53 PM EST) -- A joint venture of Brazilian resin manufacturer Braskem SA and Mexican petrochemical company Grupo Idesa has sealed a $3.2 billion financing package for a petrochemical project, in what is the largest private sector deal of the year to close in Latin America, according to Thursday announcements.

The financing package was backed by seven governmental agencies, including International Finance Corp., and 10 banks. A mix of direct and guaranteed loans, the funds will be used to get Braskem Idesa SAPI's $4.5 billion Etileno XXI project, a petrochemical...
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