Washington, D.C. /Buenos Aires - 2015,
October 22th —IFC, a member of the World Bank Group, will
provide a $135 million financing package for agribusiness company Vicentin
to support its working capital needs for exports of oilseed, oil
and sub products.
For more than 20 years, IFC has been a strategic partner of Vicentin 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, contributing with approximately
14% of the country’s soybean crushing capacity. 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 $25 million for IFC’s own account and
$110 million raised by IFC from commercial banks, financial institutions
and funds including: Natixis, Rabobank, Banco Itau BBA, FMO, ABN Amro,
Credit Agricole, Cordiant Emerging Loan Fund, as well as Federated Project
and Trade Finance Core Fund. 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 relatively long loan maturity in Argentina.
“IFC financing will improve Vicentin’s debt profile, reduce exposure
to swings in financial markets, and allow the company to continue growing
in a sustainable way. We are delighted to partner once again with IFC,”
said Vicentin Vice-President, Alberto Macua.
“Argentina is a key participant in the global agribusiness supply chain
and one of the largest and most competitive suppliers of soybean oil and
meal, which are affordable sources of fats and protein on a global scale”,
said Salem Rohana, IFC Manager for Argentina, Chile, Paraguay and Uruguay.
“This financing comes at a key moment for Argentina’s social and economic
growth, and demonstrates IFC’s long-term commitment to its clients in
the private sector,” he noted.
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.
In 2014, IFC’s global investment in the agricultural sector supported
more than 3.4 million farmers worldwide. IFC agribusiness global investments
in fiscal year 2015 were $3.2 billion.
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,
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.