Monsanto launches financing fund in Brazil
Monsanto has launched its second securitisation fund in Brazil, FIDC II. The R$300 million (US$130 million) operation involves 137 investment funds and allows the company to receive payments for its seed and agrochemical products in advance of settlements with customers. The company offers investors shares in a fund in which remuneration is financed by the settlement of receivables made by it and its subsidiary, Monsoy. "The FIDC is an important credit tool to sustain our growth in Brazil," credit strategy manager at Monsanto, Jose Boe, says. The company also realises payments through bartering and rural credit to "risk sharing".