CMS acted as lead and English law counsel to a syndicate of international development finance institutions on a USD 100 million senior secured and guaranteed pre-export financing granted to Usina Coruripe Açúcar e Álcool S.A. (Coruripe), one of Brazil’s leading producers of sugar and bioethanol. The facility agreement was signed on 23 January 2026. The financing supports Coruripe’s capital expenditure programme associated with the cultivation and processing of internationally certified sugarcane dedicated to sustainable ethanol production.
The lender group was headed by Société de Promotion et de Participation pour la Coopération Économique (Proparco) and included Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), and FinDev Canada, who are jointly contributing to the expansion of lower‑carbon sugar and ethanol production in Brazil. The loan will finance maintenance and recurring agricultural investments within Coruripe’s certified sugarcane production chain, reinforcing sustainability, climate resilience, and environmental and social standards across the value chain. Gabrielle Chino, Legal Counsel and member of the deal team, said: “We were very pleased to work with Marcell Clark and his team on this transaction, where they demonstrated strong expertise and pragmatism, consistently delivering clear, commercially sound advice throughout even the most complex phases of the deal.”
Founded in 1925, Coruripe ranks among the most important agribusiness players in Brazil, operating five mills across the states of Alagoas and Minas Gerais and employing nearly 8,000 people. The project is expected to avoid approximately 270 kilotonnes of CO₂e per year, contributing directly to SDG 8 (Decent Work and Economic Growth) and SDG 13 (Climate Action).
By supporting certified, sustainable sugarcane cultivation and next‑generation bioethanol production, this transaction strengthens a key agricultural value chain, promotes local development, and accelerates Brazil’s transition toward lower‑carbon energy sources.
“We are delighted to have had the opportunity to support Proparco, FMO and FinDev Canada in a key transaction for their long-term strategies and to have brought this deal to a successful close” said Marcell Clark, lead partner on the deal.
This transaction reinforces CMS’s leading position as an advisor in cross‑border energy and agribusiness finance and demonstrates its ability to deliver efficient execution for its clients.
CMS English Law Team
Marcell Clark, Lead Partner | Banking & Finance
Relja Rajković, Senior Associate | Banking & Finance
