BRF raises more than US 400M to strengthen liquidity this year
The company has reported that it is preparing to face this "period of uncertainty"
The Brazilian meat company BRF assured that it has completed raising the financing line, thus reinforcing its level of immediate liquidity, for a total of 2.4 billion reais (US 409 million) for an average term of one and a half years.
BRF assures that this measure represents a financial effort to face the “period of uncertainty and volatility” that is experienced in the Latin American country.
The measurement is due to the net losses registered by the company in the first quarter of the year for a value of 38 million Brazilian reais, which is equivalent to US 6.4 million.
These figures translate into a cut in red numbers of 96.2 % compared to the first three months of the previous year, while its turnover has shown an increase of 21.6 %, to 8,949 million reais (US 1,527 million).
In relation to its long-term strategy and financial discipline, the meat company maintains a renewable credit line with Banco do Brasil for a period of up to three years, encompassing an amount of 1.5 billion reais (US 256 million).
K.Villarroel
Source: americaeconomia
