Solazyme JV Scores $120M Loan For Brazilian Oil Project

Law360, New York (January 17, 2013, 8:04 PM EST) -- Solazyme Inc.'s joint venture for its first commercial renewable oil project in Brazil has snagged a roughly $120 million loan from the Brazilian Development Bank, the San Francisco-based bioproducts company said Thursday.

Solazyme Bunge Renewable Oils — Solazyme's joint venture with Bunge Global Innovation LLC, a unit of New York-based agribusiness and food company Bunge Ltd. — will receive the financing from Brazilian bank BNDES Ltd. in the form of an eight-year loan with an average annual interest rate of roughly 4 percent, the companies said....
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