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, 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.
In Washington D.C.
Adriana Gomez, IFC
Phone: (202) 458-5204
In Buenos Aires
María Florencia Rodriguez Insfrán, Personally Inside PR, for Vicentin
Phone: (5411) 5239-9988
Germán Glaz, Personally Inside PR, for Vicentin
Phone: (5411) 5239-9988