IFC, a member of the World Bank Group, is the largest private sector development institution in the developing world, currently the largest funder of Jalles Machado.
Jalles Machado's Chief Financial Officer, Rodrigo Penna, visited the headquarters of the International Finance Corporation (IFC) in Washington, USA, last week. Knowing the institution, strengthening relationships and prospecting new business were the goals of the visit.
In 2017, Jalles Machado and IFC signed a financing agreement in the amount of US $ 55 million to support the company's expansion plan. "For us, it was a great satisfaction to be received by one of IFC's global directors. Carrying out transactions with the institution is based on the already recognized level of corporate governance and the responsibility and transparency with which Jalles Machado's businesses are conducted not only in the financial area but also in the socio-environmental area. We are very interested in expanding this partnership," says Rodrigo Penna.
Of this amount, US$ 35 million was directly financed by IFC for an 8-year term, US$ 15 million was financed by Rabobank for seven years and US$ 5 million by ABN Amro for five years. All operations have a grace period of 3 years.
The resources were used to expand the sugarcane area, implement irrigation technologies and invest in the industrial plant, which will allow the milling to increase to more than 4.7 million tons of sugarcane.
Rodrigo Penna points out that the operation lengthens the indebtedness profile, strengthens liquidity and diversifies Jalles Machado's financing sources. "We are proud to be able to carry out this operation with an international institution with the credibility and the requirement level of IFC. We thank all of our employees who contribute to the good performance of Jalles Machado and also the confidence of our investors and shareholders", he adds.
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