The transaction consists of a mezzanine loan in favor of Costa Rica Pallet & Pooling Co Corp. ("RAP") to finance its growth in production capacity through the rental of pallets for transportation and commercial logistics, mainly in the Dominican Republic (where it will start operations) and in Central America where it concentrates its current operations.
This long-term loan for up to seven years, with a grace period of up to 12 months, has a committed tranche of US$8 million and an uncommitted tranche for the remaining balance, subject to the discretion of IDB Invest, which may be used for future growth in the medium term. The use of funds includes investments mainly in pallets, which RAP rents to local and multinational companies.
RAP was born in 2001 as a family business, with operational headquarters in Costa Rica, offering pallet rental, export, repair, and reuse services, managing to give circularity to goods that in the past were traditionally single-use material. It has operations in the Central American region, but Costa Rica is its main market. With this financing operation, RAP will have a broad Environmental and Social Action Plan and a Corporate Governance Action Plan that will allow it to align with the best international standards in the sector.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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ADDRESS: 1350 New York Ave NW, Washington, DC 20005
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