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IFC, Natixis, and Rabobank Arrange a $295 Million for Vicentin in Argentina

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 Itaú BBA, Cordiant Allianz, Cordiant Fund IV, 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. 

About IFC 
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. 

About Vicentin 
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.] 

About Natixis 
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. 

About Rabobank 
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

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