Ecoagro, the largest agribusiness securitization company in Brazil, has issued an Agribusiness Receivables Certificate (CRA) for Pisani Plásticos S.A., the Latin American market leader in returnable packaging solutions, with its headquarters and manufacturing plant in Caxias do Sul (RS) and two other facilities in Pindamonhangaba (SP) and Recife (PE). Aeté Capital acted as the financial advisor and structurer of the operation, Oliveira Trust acted as the fiduciary agent, and Vortx as the custodian and bookkeeper, alongside legal counsel from the law firms Mello Torres and Franco Leutewiler Henriques.
The main differentiator of this CRA is the Green Certification issued by NINT, the largest ESG Consulting and Evaluation company in Latin America and the Caribbean, recognizing the use of 1/3 recycled raw material throughout Pisani's production. The single-series issuance has a six-year term, maturing in February 2029. The operation aims to benefit AGRO clients, including rural producers and cooperatives, allocating resources to acquire the necessary inputs for manufacturing boxes, poultry transport cages, bottle crates, pig farming flooring, among other returnable material products.
According to Mathias Teixeira, Chief Innovation Officer at Ecoagro, the operation drives the advancement of solutions that promote increased productivity in the field. “It is a sector that is undergoing transformation and is attentive to the responsible use of materials and good ESG practices,” he highlights.
The CEO of Pisani Plásticos S.A., Paulo Francisco Webber, states that this is the company's first issuance in the Capital Markets, elevating the brand to a new level of governance and market best practices, in addition to definitely being an active agent and an example in environmental care. This operation maintains Pisani's technological updates at world-class levels.
Rodrigo Nery, partner at Aeté Capital, celebrated the success of the transaction: “We were very pleased to make this operation viable for Pisani and contribute to this important achievement for the company. Having a company specialized in the plastic recycling sector receive such an important certificate, attesting to its sustainable practices, represents a huge step forward for the entire sector,” he commented.
For Isabela Coutinho, sustainable finance manager at NINT, Pisani's green operation is a pioneer in the plastic recycling sector, encouraging the practices carried out by the company. We determined that the operation aligns with the 'circular economy' and 'pollution prevention and control' categories set forth by the Green Bond Principles. Furthermore, the operation impacts Sustainable Development Goals (SDG) 11 (Sustainable Cities and Communities), 12 (Responsible Consumption and Production), and 14 (Life Below Water). The recycling practice is also aligned with the Climate Bonds Taxonomy.