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Trans-Oil PxF 2021,Moldova

Moldova | Consumer Staples

Identification Code:: OP/21/0018
Total Operation Cost:: 145.500.000 USD
Maturity:: 24 months
Operation Status:: BSTDB Approved Amount – Approval Date

25.000.000 USD – 24 Jun 2021
: BSTDB Signed Amount – Signed Date

25.000.000 USD – 21 Jul 2021
: Status:
Completed
Description and Purpose of the Operation:: Participation in an up to USD 275 million syndicated Pre-Export Finance Facility to TransOil 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 (only on a receivable basis), sunflower meal and/ or any other agricultural commodity.
Countries of Operation:: Moldova (100,00%)
Financial Product:: Loans
Sector:: Consumer Staples
Domain:: Private
Borrower/Client:: TOI Commodities S.A., Switzerland
Co-Financers/Participants:: ING Bank and other IFIs
Guarantors/Sponsors:: Aragvi Holding International Ltd., Cyprus
Developmental and Regional Cooperation Impact:: The agricultural sector accounted for 10.0 % of Moldova’s GDP in 2019. The agricultural sector employed 35.4%% of the domestic labor force in 2020. 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. The end recipient of the Bank’s financing is a dominant Moldovan entity involved in sourcing, processing, storing, and transportation of commodities, particularly of agricultural origin. The recipient is already exporting extensively to BSTDB members and beyond, has a presence in other BSTDB member countries (Ukraine and Romania). The proposed Facility will be used to finance the Group’s seasonal working capital needs associated with origination, primary processing, storage, and transportation of agricultural products with an eventual sale for exports. Therefore, there seems to be a strong regional cooperation element in the operation.
Environmental Classification and Impact:: The Operation involves participating in the pre-export facility of TransOil Group that 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 (only on a receivable basis), sunflower meal and/ or any other agricultural commodity approved by the majority lenders (the "Commodities") and their subsequent sale for export. The Operation has been screened as environmental and social (E&S) category B and is not likely to be associated with significant issues, and the existing risks and impacts are generally limited, site specific, and can be readily addressed through prevention and mitigation measures widely applied in the agribusiness sector.
Operation Leader:: General Industries, Transport, Tourism 1
E-mail:: gitt1@bstdb.org