Deal Announcement – DEG arranges 104.2 million USD for ETC Group and contributes directly with 40 million USD in a syndication to African agricultural trading company
DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH – provided ETC Group (“ETG”) with long-term working capital of up to USD 40m and syndicated a further USD 64.2m. Besides DEG, the consortium is comprised of the eco.business Fund, Finnish DFI Finnfund and French DFI Proparco, as well as a tranche from EFP – European Financing Partners, the co-financing vehicle of European DFIs set up in cooperation with the EIB. DEG acted as mandated lead arranger.
ETG has developed into a global player with a diverse portfolio of expertise across multiple industries, encompassing agricultural inputs, logistics, merchandising and processing, and supply chain optimization, with most of its footprint in Africa. ETG operates and manages more than 460 warehouses and over 120 processing plants. The facility will enable ETG to further stabilize and develop its business.
With this long-term financing, the consortium supports a major player in the agricultural supply chain of numerous African and Asian countries particularly affected in this corona pandemic. This contributes to food security for populations in need.