Washington, D.C. /Buenos Aires - January
, 2018 —IFC, a member of the World Bank Group, Natixis, and Rabobank
arranged a $295 million long-term pre-export financing package for agribusiness
company Vicentin in Argentina to support its working capital needs for
exports of oilseed, oil and sub products.
IFC, Natixis, and Rabobank have been strategic relationships of Vicentin
for more than 20 years by providing financing, mobilizing resources and
sharing global sector knowledge. Vicentin is a leading player in Argentina’s
agribusiness sector and one of the country’s largest oilseed crushers.
The company is also a significant employer in Argentina and an important
contributor to rural economies through linkages with local farmers and
intermediaries, who provide oilseeds to the company.
The financing package consists of $35 million for IFC’s own account and
$260 million mobilized from commercial banks, financial institutions and
funds. This includes $89 million of a previous facility, whose tenor was
extended. IFC, Natixis and Rabobank acted as Joint Lead Arrangers
and Joint Bookrunners. Participating institutions included: ING, Credit
Agricole, ABN Amro, FMO, Banco Itaś BBA, Cordiant Capital, Federated Core
Fund as well as Federated Tender Fund. The transaction consists of two
tranches of up to 6 and 7 years, a relatively long loan maturity for such
type of pre-export financing facility.
“The financing package structured by IFC, Natixis, and Rabobank will support
expansion of production and exports, as well as strengthen our competitiveness,”
said Vicentin Vice-President, Alberto Macua. “We are thrilled to partner
once again with these key relationship banks,” he said.
“Vicentin is an essential player in the agribusiness and export sectors
in Argentina. We are pleased to continue supporting the company’s growth
and contribution to job creation and sustainable practices in Argentina,”
said David Tinel, IFC Regional Manager for Argentina, Chile, Paraguay and
Uruguay. “This new financing demonstrates IFC’s commitment to partner
with key private sector players in Argentina and to strengthen the country’s
insertion in global markets.”
IFC has been supporting the grains and oilseeds sector in Argentina through
investments in infrastructure, processing and inputs distribution and financing
working capital needs. IFC’s investments in the sector over the last three
years, including mobilization, have totaled about $1 billion.
IFC—a sister organization of the World Bank and member of the World Bank
Group—is the largest global development institution focused on the private
sector in emerging markets. We work with more than 2,000 businesses worldwide,
using our capital, expertise, and influence to create markets and opportunities
in the toughest areas of the world. In FY17, we delivered a record $19.3
billion in long-term financing for developing countries, leveraging the
power of the private sector to help end poverty and boost shared prosperity.
For more information, visit www.ifc.org.
Vicentin is a family-owned business engaged in the oilseed crushing business
since 1929. Through continued investments and partnerships, it has become
one the largest soybean crushers in Argentina, with crushing capacity of
29,500 tons per day. Through its affiliate Renova, Vicentin operates the
Timbues crushing and port complex, one of the largest and most efficient
facilities in the World.]
Natixis is the international corporate, investment, insurance and financial
services arm of Groupe BPCE, the 2nd largest banking group in France with
31.2 million clients spread over two retail banking networks, Banque Populaire
and Caisse d’Epargne. With more than 16,000 employees, Natixis has a number
of areas of expertise that are organized into three main business lines:
Corporate & Investment Banking (“CIB”), Investment Solutions &
Insurance, and Specialized Financial Services. A global player, Natixis
has its own client base of companies, financial institutions and institutional
investors as well as the client base of individuals, professionals and
small and medium-size businesses of Groupe BPCE’s banking networks.
Natixis CIB Americas advises and assists corporates, institutional investors,
insurers, banks and public-sector organizations. We furnish a diversified
array of financing solutions, provide access to capital markets and deliver
transactional banking services. We have an Economic and Market Research
team, CIB Americas has dedicated platforms to serve LatAm and Canadian
clients, including 6 offices in Latin America and a branch in Canada. The
platform focuses on five businesses, with Coverage working alongside these
business leaders to help develop strategic client relationships.
Established in the Netherlands, Rabobank is a leading global bank with
over 1,000 offices in more than 40 countries, and almost 50,000 employees
worldwide. Rabobank operates on the basis of cooperative principles with
strong agriculture roots, thus boasting a track record of over a century
in financing agribusiness through long-term relationships. Rabobank is
committed to making a substantial contribution to welfare and prosperity
in the Netherlands and to feeding the world sustainably, aiming to being
the leading bank in the field of food and agri worldwide through its unique
Banking for Food vision. Furthermore, Rabobank has been active in Argentina
since 1993 as a Representative Office, and over the years, has built strong
relationships across the industry by providing continued support to agribusiness
companies in the country.