The Firm served as international transaction counsel to the Netherlands Development Finance Company (FMO) in connection with a $20 million credit facility to Fábrica Carioca de Catalisadores S.A. (FCC) that was concluded in May 2005. The $20 million loan from FMO is composed of a $10 million “A” loan for FMO’s account and a $10 million “B” loan funded by the participation of Abn Amro Bank N.V., a Dutch bank.
FCC is a Brazilian technology company that produces and provides solutions in catalysts and additives for the oil refining industry. FCC is a joint venture of Petrobras (through Petroquisa, its petrochemicals subsidiary), the Brazilian state oil company, and Albemarle Corporation, a specialty chemicals company listed on the New York Stock Exchange. The credit facility will be used by FCC to expand its catalyst production capacity by the installation of new technology at its production facilities in the State of Rio de Janeiro, Brazil.
The Firm’s representation of FMO during the transaction included advice and assistance during negotiations, drafting of the loan agreement and related documentation and assisting Brazilian counsel with the creation of an offshore account receivables structure to provide security for the loan.