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Trans-Oil Pre-Export Finance Facility

Moldova | Consumer Staples

Identification Code:: OP/17/0020
Total Operation Cost:: 240.000.000 USD
Maturity:: 12 months
Operation Status:: BSTDB Approved Amount – Approval Date

30.000.000 USD – 26 May 2017
: BSTDB Signed Amount – Signed Date

-5.000.000 USD – 12 Jul 2018

30.000.000 USD – 12 Jul 2017
: Status:
Completed
Description and Purpose of the Operation:: Participation in an USD 170 million syndicated Pre-Export Finance Facility to Trans-Oil Group of companies, Republic of Moldova. The pre-export facility will be used for the financing of seasonal working capital needs associated with origination, primary processing, storage and transportation of corn, feed wheat, milling wheat, barley, rape seeds, soybeans, sunflower seeds, sunflower oil (in bulk), refined sunflower oil in bottle, sunflower meal and/ or any other agricultural commodity approved by the majority lenders (the "Commodities") and their subsequent export from Moldova.
Countries of Operation:: Moldova (100,00%)
Financial Product:: Loans
Sector:: Consumer Staples
Domain:: Private
Borrower/Client:: Trans-Oil International S.a., Switzerland
Co-Financers/Participants:: A syndicate of banks with MLA: Societe Generale , Zurich Branch. Other Participants in the year's 2016/2017 Facility: Mobiasbanca, IFC, Banca Comerciala Romana, Arab Bank Ltd, Banque Cantonale Vaudoise, Fimbank.
Guarantors/Sponsors:: Aragvi Holding International Ltd., Cyprus, (the "Parent Company") and all its direct and indirect subsidiaries
Developmental and Regional Cooperation Impact:: The agricultural sector in Moldova accounts for roughly 15% of gross value added and employs around one third of the working age population. Trans-Oil works with more than 400 farms, located all around the country Consequently, Trans-Oil Group performance in the country is essential not only for the livelihood of the Trans-Oil 1,700 + workers of the Group but indirectly to another 6-7,000 people.
Environmental Classification and Impact:: Category B operation. Financing of seasonal working capital for the purchase of soft commodities is not likely to be associated with significant environmental and social (E&S) issues, and the existing risks and impacts are generally limited, site specific, and can be readily addressed through prevention and mitigation measures applied in agribusiness sector, such as grain and sunflower seeds production and manufacturing of sunflower oil and meals.
Operation Leader:: General Industries, Transport, Tourism 1
E-mail:: gitt1@bstdb.org