CORRECTED-Brazil's Biosev borrows $210 mln from banks

(Corrects headline, first and second paragraphs and adds July
13 to make clear that financing was completed before IPO; drops
reference in first paragraph to funding being used for expansion
projects.)

* Biosev, six private banks arrange syndicated loan

* Company put off share sale last week on poor demand

* Louis Dreyfus' Biosev seeks to expand in cane sector

RIO DE JANEIRO, July 24 (Reuters) - Biosev, the Brazilian
sugar and ethanol unit of commodities powerhouse Louis Dreyfus
Corp borrowed $210 million from private banks on July
13, before failing to conclude an initial public offering.

Biosev obtained a $126 million, three-year amortizing loan
that expires in January 2015 and an additional $84 million
through a revolving credit line expiring on the same date, the
company said in statements emailed to Reuters on Tuesday.

The company, which plans to expand in Brazil's sugar cane
sector, suspended on Thursday its initial public offering for an
indefinite period after uncertainty over global markets sapped
investor appetite for the deal.

Biosev's subsidiary, LDC Bionergia International SA,
obtained the loans from a pool of banks led by Credit Agricole
CIB, Natixis SA, ABN Amro Bank, ING Bank NV, Standard Chartered
Bank and Israel Discount Bank, the statement said.

Chief Financial Officer Serge Stepanov said in the statement
the first part of the loan will not increase the company's debt
load as it will replace more expensive, shorter-dated debt. The
revolving credit line, on the other hand, will help Biosev cater
to its short-term needs for funding, he added.

French group Louis Dreyfus was one of the first
multinational companies to enter Brazil's cane sector, when it
snapped up the ailing Santelisa Vale milling group in 2009 in
what many industry specialists thought was a steal in the wake
of the global financial crisis.

Santelisa Vale, considered the crown jewel of the sector and
which had some of the most modern and efficient mills at the
time, was recently renamed Biosev in advance of Louis Dreyfus'
planned spinoff of the unit.

(Reporting by Walter Brandimarte; Editing by Guillermo
Parra-Bernal and Matthew Lewis)