Valley school lands $54 million refi

San Jose-based Valley Christian Schools -- known for its Microlab experiments aboard the International Space Station -- has landed $54 million in refinancing of its debt through a loan from San Francisco-based Wells Fargo.

The money provides capital funds to bolster the San Jose educational organization's continued growth.

The refinancing provided a nontax-exempt funding solution with more favorable terms for funding to allow increased enrollment.

The school expanded its Skyway Campus by almost 55,000 square feet, including a Conservatory of the Arts.

The financing also will help Valley Christian High School expand its academic offerings to include cancer research in a Bio2 Safety Lab. In addition, more experiments will be conducted involving nanotechnology and molecular research with recently acquired atomic force microscopes.

Asian food distributor buys Hayward complex

Well Luck has bought a large Hayward industrial building that will enable the company to move out of South San Francisco in the first three months of 2013.

The Asian food distributor bought a 101,000-square-foot complex at 26599 Corporate Ave. in Hayward, according to the commercial realty brokerage that handled the deal, Colliers International.


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Well Luck intends to use the warehouse for immediate expansion. Financial terms weren't disclosed.

The company distributes branded products from China, Japan, Taiwan, Hong Kong, Singapore and other Asian countries. Grocers, restaurants and other food services outlets are its primary customers.

-- Staff

Oil companies have trouble hiring in Brazil

San Ramon-based Chevron's difficulties in Brazil have created difficulties for oil companies that seek to hire foreign workers crucial to Brazil's booming offshore oil industry.

Employees of Chevron and Switzerland-based oil rig firm Transocean face criminal and civil cases.

Some prospective workers needed to operate high-tech drill rigs and other offshore oil equipment want guarantees of a swift exit from Brazil in case of an offshore spill, João Carlos de Luca, president of the Brazilian Petroleum Institute, said at a conference on the country's investment risks.

"Some companies had to make amendments to work contracts, offering helicopters and open plane tickets so their workers can leave the country immediately if there is an accident," de Luca said.

"With the absence of rights auctions and the repercussions from the Frade spill, it was a very bad year for the Brazil oil business," he added during an appearance at the conference in Rio de Janeiro.

-- Reuters