Washington, D.C. /Buenos Aires, March
15, 2016. IFC, a member of the World Bank Group, received the “Deal
of the Year” Award by top trade publication Trade Finance for a
$135 million transaction with Vicentin, one of Argentina’s leading agribusiness
companies. The loan helped to shore up the operations of an important player
in Argentina’s agricultural sector, which is crucial for the country’s
The loan consisted of $25 million from IFC’s
own account and $110 million raised by IFC from other commercial banks
and financial institutions. Trade Finance highlighted that IFC’s
involvement was key in mobilizing financial support from the other lenders
and that the loan also sets a strong syndication platform for future transactions
”We are very pleased to see that this important
transaction, which helped to support our growth and operations, is being
recognized by Trade Finance,” said Roberto Gazze, Vicentin’s Director
and CFO. “IFC has been a strategic partner for Vicentin during 20 years
and this loan helped us improve our debt profile and to continue growing
in a sustainable way,” he said.
Natixis and Rabobank acted as joint lead
arrangers with IFC for the syndication. IFC’s loans consist of two tranches
of up to 3 and 5 years, a loan with a relatively long term maturity in
Vicentin is a leading player in Argentina’s
agribusiness sector and one of the country’s largest oilseed crushers,
contributing about 14% of the country’s soybean crushing capacity. The
company is also an important contributor to Argentina’s rural economies
by creating jobs and developing relationships with local farmers and intermediaries
who provide oilseeds to the company.
“This award recognizes the pioneering role
that IFC can play in mobilizing resources for private sector development
in challenging environments,” said Liz Bronder, IFC’s director for Latin
America and the Caribbean. “This investment helped demonstrate that commercial
banks and financial institutions in Argentina can invest in the country’s
agricultural sector, which is an engine of economic growth,” she said.
The loan is evidence of IFC’s support to
Argentina’s agribusiness sector, which is a priority for IFC in the country.
IFC’s agribusiness strategy focuses on strengthening food security and
rural incomes by improving productivity in agriculture, promoting inclusive
growth, and helping companies adopt good environmental and social practices.
IFC, a member of the World Bank Group, is
the largest global development institution focused on the private sector
in emerging markets. Working with more than 2,000 businesses worldwide,
we use our capital, expertise, and influence, to create opportunity where
it’s needed most. In FY15, our long-term investments in developing countries
rose to nearly $18 billion, helping the private sector play an essential
role in the global effort to end extreme 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 Timbúes crushing and port complex, one of the largest
and most efficient facilities in the World.