London-based publication Bonds & Loans knows a good deal when it sees one. It gave a Deal of the Year award to IFC's recent $410 million transaction in Argentina.
Our financing package enables Argentine firm Renova to expand its world-class Timbúes soybean-crushing and port complex on the Coronda River, 462 km north of Buenos Aires. It includes $75 million from IFC, $75 million from Rabobank, and $260 million from other development finance institutions and commercial banks.
The financing will increase the plant’s soybean-crushing capacity by 50 percent and double its port’s loading capacity of soybean oil and meal—key commodities in which Argentina is one of the world’s top exporters. Renova is a joint venture between Argentina’s Vicentin and Oleaginosa Moreno Hermanos.
“This was a standout transaction that helped carve a path for borrowers in Argentina’s agricultural sector and the wider market,” said Jonathan Brandon, Managing Editor of Bonds & Loans.
Read more: ifc.org/lac