The Project consists of two financing facilities to support Norson Holding, S. de R.L. de C. V ("Norson", the "Company", the "Company" or the "Client"): (i) facility of financial support to eligible suppliers that are part of Norson's supply chain ("Reverse Factoring"); and (ii) a limited recourse financing facility to Norson, in which IDB Invest will finance eligible producers that have been specially created to develop (design, build, operate and maintain) infrastructure (mainly maternity and pig fattening farms) related to Norson's value chain under a partnership scheme ("Partnership Facility", collectively the Partnership and Reverse Factoring Facility, the "Project").
The Partnership consists of the creation of a company not controlled by Norson for the design, construction, operation and maintenance of facilities related to Norson's pig production operation. The new company will be funded by equity contributions of at least US$7.5 million (at least 30% by Norson and the remainder by independent producers in relation to Norson which will be defined in the structuring) and senior financing of up to US$11.5 million, of which at least US$7.0 million is expected to be funded by IDB Invest, while the remaining US$4.5 million is expected to be funded by a Norson relationship bank.
The factoring consists of a revolving, uncommitted reverse factoring facility to Norson and its eligible subsidiaries (the Purchasers) for up to $30 million. Through this facility, IDB Invest seeks to facilitate access to competitively priced financing for the Buyers' suppliers (SMEs) in Mexico.
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|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Norson Holding, S. de R.L. de C.V.||Undisclosed||Agriculture and Forestry|
ADDRESS: 1350 New York Ave NW, Washington, DC 20005
ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST
The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IDB Invest)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).