Calyon successfully arranged a EUR 25 million one year pre-export financing facility in favour of Abengoa Bioenergia Brazil, Abengoa Bioenergia Sao Joao and Abengoa Bioenergia Sao Luiz on a joint and several basis. By means of this transaction Abengoa will finance the production of sugar sold to a number of international buyers and will monetize the account receivables.

The transaction is secured by the assignment of sugar export contracts properly acknowledge by the offtakers (at present are Sucden and Bunge), 125% coverage ratio with top-up mechanism, promissory note, pledge over the collection account and a first demand guarantee provided by the parent company, Abengoa SA located in Spain.

Abengoa is a key client of Calyon in Spain which is placed among Abengoa´s top 10 relationship banks. In March 2008, Calyon acted as joint arranger (50%) for a EUR 106 million non-recourse discounting line in favour of Abengoa.

Founded in 1941, Abengoa is a Spanish multinational corporation which includes companies in the domains of energy, telecommunications, transportation, and the environment. Their products are solar energy and bioenergy devices, IT, water and waste treatment.