IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, finances the Durli Group in Brazil and Paraguay, with a financial package in Brazil of $38 million and another in Paraguay of $15 million.
The operation in Brazil consists of a loan of $13.8 million from IDB Invest and the mobilization of $24.2 million from other sources, including $4.2 million from the Chinese Fund for the Co-financing of the Private Sector of the Americas and $20 million of funds managed by Cordiant Capital, Inc. The project will allow Durli Brasil to refinance part of the existing debt and increase its industrial leather production.
Operation in Paraguay supports the launch of the company to that market and consists of a loan of $6 million from IDB Invest, and the mobilization of $3 million from the Chinese Fund for the Co-financing of the Americas and the contribution of the partners for a value of $6 million.
Both loans will go toward the construction of plants for the treatment of leather, and to partially finance the needs of working capital and the refinancing of liabilities.
Through this double financing, the Durli Group will be able to increase its industrial leather production, strengthen its exports, increase its sales in the local market, initiate its international expansion and reinforce the value chain. With the loans led by IDB Invest, the Durli Group has access to terms and grace periods greater than those available in both markets for companies of its characteristics.
Original source: IDB
Published on 3 May 2018
