Company name
NATURASOL, S.A. DE C.V.
Project number
14926-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Mexico
Sector
Agribusiness
Status
In implementation
Disclosed date
07/05/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/09/2024
Approval date
08/09/2024
Signed date
11/11/2024
Sponsoring entity
Naturasol S.A. de C.V. y Mielmex S.A. de C.V.
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
USD $ 20,000,000
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
The financing facility proposed for Naturasol S.A. de C.V. and Mielmex S.A. de C.V. (jointly, the “Borrowers” or the “Company”), a Mexican fast-growing food processing company and the largest exporter of honey in the country, involves financing of up to US$70 million (the “Facility”) and breaks down as follows: (i) an A/B secured senior loan of up to US$45 million, with up to US$25 million from IDB Invest and up to US$20 million from third parties (the “Long-term Loan” ); and (ii) a multi-currency uncommitted revolving loan of up to US$25 million (the “Revolving Loan”). The funds from the Facility will be used to finance the Company’s capital expenses and working capital needs related to the expansion and improvement of the operations in Mexico, while reducing its carbon footprint (the “Project”).
The development objectives of the Project are: (i) promoting local growth and productivity; and (ii) opening revenue-generating opportunities for employees and local suppliers, including micro-, small- and medium-sized agricultural suppliers in the Company’s value chain.
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Contact information
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Client Contact
mario.esquivel@mielmex.com
PHONE NUMBER
+52 55 5562 6587
POST OFFICE ADDRESS
CIRCUNVALACIÓN PTE. 9A, CD. SATÉLITE, 53100 NAUCALPAN DE JUÁREZ, MÉXICO
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
NATURASOL EXP - ENRIVONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
1.0 Mb
NATURASOL EXP - ENRIVONMENTAL AND SOCIAL ACTION PLAN (ESAP)
92.2 Kb