Bunge Limited (NYSE:BG): Closing price $77.18
Solazyme (NASDAQ:SZYM) reports that Solazyme Bunge Renewable Oils, its joint venture with Bunge Global Innovation, a wholly-owned subsidiary of Bunge, has won approval for project financing in the form of a loan from the Brazilian Development Bank, or BNDES, of roughly $120 million. The funding will support the joint venture’s first commercial-scale renewable oil production facility in Brazil, which is being built adjacent to Bunge’s Moema sugarcane mill in Sao Paulo state. The 8-year loan will have an average interest rate of around 4 percent per annum. Shares closed up 0.95 percent on the day at $77.18, and have been traded in a 52-week range of $56.20 to $76.50.