| Project Detail |
The financing facility proposed for Naturasol S.A. de C.V. and Mielmex S.A. de C.V. (jointly, the “Borrowers” or the “Company”), a Mexican fast-growing food processing company and the largest exporter of honey in the country, involves financing of up to US$70 million (the “Facility”) and breaks down as follows: (i) an A/B secured senior loan of up to US$45 million, with up to US$25 million from IDB Invest and up to US$20 million from third parties (the “Long-term Loan” ); and (ii) a multi-currency uncommitted revolving loan of up to US$25 million (the “Revolving Loan”). The funds from the Facility will be used to finance the Company’s capital expenses and working capital needs related to the expansion and improvement of the operations in Mexico, while reducing its carbon footprint (the “Project”).
The development objectives of the Project are: (i) promoting local growth and productivity; and (ii) opening revenue-generating opportunities for employees and local suppliers, including micro-, small- and medium-sized agricultural suppliers in the Company’s value chain. |
