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Borrowings (Tables)
 12 Months Ended
Dec. 31, 2022
Financial Instruments [Abstract]  
Schedule of Detailed Information about Borrowings
 20222021
Non-current  
Senior Notes497,901 497,455 
Bank borrowings230,082 208,032 
 727,983 705,487 
Current  
Senior Notes8,250 8,250 
Bank overdrafts48,058 11,768 
Bank borrowings223,461 92,146 
 279,769 112,164 
Total borrowings1,007,752 817,651 
The maturity of the Group's borrowings and the Group's exposure to fixed and variable interest rates is as follows:
 20222021
Fixed rate:  
Less than 1 year272,900 104,349 
Between 1 and 2 years27,720 12,503 
Between 2 and 3 years2,222 12,500 
Between 3 and 4 years— — 
More than 5 years497,901 497,455 
 800,743 626,807 
Variable rate:  
Less than 1 year6,869 7,815 
Between 1 and 2 years35,355 5,075 
Between 2 and 3 years32,851 31,754 
Between 3 and 4 years80,115 29,255 
Between 4 and 5 years50,211 71,045 
More than 5 years1,608 45,900 
 207,009 190,844 
 1,007,752 817,651 
The main loans of the Group’s Brazilian Subsidiaries are:
BankGrant date
Nominal
amount
Capital outstanding as of December 31Maturity dateAnnual interest rate
20222021
(In millions)Millions of
Reais
Millions of
equivalent
Dollars
Millions of
equivalent
Dollars
Banco do Brasil / Itaú BBA (FINEM) (1)September 2013R$273.0 R$273.0 52.32 4.75 January 20234.68%
Certificados Recebíveis do Agronegócio (CRA)December 2019R$400.0 R$400.0 76.66 83.68 November 2027
3.80% + IPCA
DebêntureDecember 2020R$400.0 R$400.0 76.66 80.10 December 2026
4.24% + IPCA
Banco do Brasil (CCB)December 2020R$30.0 R$30.0 5.75 5.48 January 2024
CDI + 2.32%
Banco Itaú BBA (NCR)April 2022R$20.0 R$20.0 3.83 — March 202413.23%
 

(1)Collateralized by (i) liens over the Ivinhema mill and equipment; and (ii) power sales contracts.
 
The main loans of the Group’s Argentinian Subsidiaries are:
BankGrant dateNominal
amount		Capital outstanding as of
December 31		Maturity dateAnnual interest rate
20222021
(In millions)(In millions)(In millions)
Rabobank (1)2018US$50.025.0037.50June, 20246.17%
IFC Tranche A (2)2020US$12.610.6612.35June, 2028
4% plus LIBOR
IFC Tranche B (2)2020US$9.47.969.22June, 2028
4% plus LIBOR
 
(1) Collateralized by the pledged of the shares of Dinaluca S.A., Compañía Agroforestal S.M.S.A. and Girasoles del Plata S.A.
(2) Collateralized by a US$241.8 million mortgage over Carmen, Abolengo, San Carlos, Las Horquetas, and La Rosa farms, which are property of Adeco Agropecuaria S.A. A US$35.7 million mortgage over El Meridiano farm, which is property of Pilaga S.A. and a US$44.3 million mortgage over Santa Lucia farm, which is property of Bañados del Salado S.A.
Evolution of the Group's borrowings as December 31, 2022 and 2021 is as follow:

 20222021
Amount at the beginning of the year817,651 971,090 
Proceeds from long term borrowings41,082 30,972 
Payments of long term borrowings(14,012)(108,425)
Proceeds from short term borrowings347,928 286,115 
Payments of short term borrowings(192,648)(328,463)
Payments of interest (1)(33,189)(49,592)
Accrued interest51,596 48,791 
Acquisition of subsidiaries (Note 21)17,738 — 
Exchange differences, inflation and translation, net(30,489)(52,693)
Others 2,095 19,856 
Amount at the end of the year1,007,752 817,651 
(1) Excludes payment of interest related to trade and other payables.