Nicaragua Sugar Estates Limited S.A.

completed

_x000C_Nicaragua Sugar Estates Limited S.A. (the company), founded in 1890, is one of the leading sugar producers in Central America. It supplies raw and refined sugar to the domestic market in Nicaragua, and exports raw sugar to the world market, including the U.S. The company owns 11,000 ha of sugar cane plantations, and also purchases sugar cane from independent growers. The purpose of the project is to : - improve the efficiency of the sugar mill and maximize its capacity, - acquire up to 1,500 ha new land; - purchase harvesting equipment and invest in plantation infrastructure and maintenance; - replace existing irrigation systems with more efficient ones; - construct a plant alongside its sugar mill to produce and export ethanol; and - refinance short-term debt.