Verde Agritech hails major funding milestone with BNDES loan

Verde Agritech has sealed a debt financing deal for R$1.04 million with the Brazilian development bank BNDES to build a facility to produce its Super Greensand fertiliser in Brazil. The debt arrangement will be fulfilled by Santander Bank as direct operations with BNDES requires a minimum financing of $10 million and Verde requires less funds for this stage of mine and plant construction. The loan term is 60 months and the total interest rate is 12.26%.