Holland & Knight Advises IDB Invest on $250 Million Pre-Export Credit Facility

NEW YORK (July 10, 2023) – Holland & Knight represented the Inter-American Investment Corporation (IDB Invest), as the lender of a dual tranche pre-export loan for up to $250 million to Molinos Agro S.A. and Molinos Overseas Commodities S.A., as co-borrowers. The facility consists of a senior revolving facility for up to $50 million (the “Tranche A Loan”) and a senior term loan facility for up to $200 million to be disbursed in the form of one or more term loans (the “Tranche B Loans”). The Tranche B Loans consisted of mobilized funds with Santander and Rabobank acting as lead arrangers. The deal was signed on May 12.

Molinos Agro, a company publicly listed on the Buenos Aires Stock Exchange since 2017, emerged in July 2016 from the corporate reorganization of Molinos Río de la Plata S.A., a company established in 1902. Prior to this reorganization, Molinos Agro functioned as the Bulk Division within the broader framework of Molinos Río de la Plata S.A. The core operations of Molinos Agro encompass two principal areas: (i) the processing and commercialization of grains and their derived by-products from soybeans, and (ii) the trading of cereals.

IDB Invest, as a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest provides financing to sustainable businesses and projects with the aim of achieving financial results while maximizing economic, social, and environmental development in the region.

The Holland & Knight team advising IDB Invest was led by Partner Norberto E. Quintana. He was assisted by Associates Pedro de Elizalde and Francisco Bianchetti and International Law Clerk Agustina Perez Lete.