Finnfund, DEG, Proparco et al give Export Trading Group a cash boost
The global agricultural commodity trader is set to receive a total financing package of $102.2m, which it will use to finance several of its African subsidiaries and increase its working capital.
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▪ Finnfund, DEG, Proparco et al give Export Trading Group a cash boost
▪ The global agricultural commodity trader is set to receive a total financing package of $102.2m, which it will use to finance several of its African subsidiaries and increase its working capital.
▪ https://www.jeuneafriquebusinessplus.com/en/804406/finnfund-deg-proparco-renforcent-la-tresorerie-dexport-trading-group-famille-patel/
15/05/2020 at 17h18, by Valentin Grille, updated 27/05/2020
According to our sources, the investment will take the form of a syndicated loan, the negotiations of which began in autumn before picking up speed in January. DEG, a subsidiary of Germany’s KfW, signed the $40m funding agreement on 3 April; Finnfund publicly announced its $15m investment in the company on 11 May. France’s Proparco and Germany’s eco.business Fund, another fund introduced by KfW, are providing the remaining cash, $45.2m, with the participation of European Financing Partners (EFP), a joint venture overseen by the European Investment Bank (EIB).
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