Original disclosure @ IFC website
Updated in EWS May 5, 2022
Disclosed by Bank Aug 19, 2021
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Wolverine World Wide, Inc. (“WWW”, “Wolverine” or the “company”) is a designer, marketer and licensor of a broad range of casual footwear and apparel, performance outdoor and athletic footwear and apparel, kids' footwear, industrial work boots and apparel, and uniform shoes and boots. The company’s products are marketed worldwide in approximately 170 countries and territories through owned operations in the United States, Canada, the United Kingdom and certain countries in continental Europe and Asia Pacific.
The proposed investment is to establish a $15 million supply chain finance facility (the “project”) under the Global Trade Supplier Finance program (“GTSF” or the “program”) to finance suppliers of Wolverine. The GTSF was approved by the Board on September 21, 2010 (#28723). Under GTSF, IFC provides short-term financing to suppliers (the “suppliers”) in emerging markets selling to large companies (the “buyers”) on open account terms. Under the project, IFC would purchase invoices submitted by suppliers to Wolverine in several emerging markets, on a discounted basis via the Infor Nexus platform and receive payment of the full invoice value from Wolverine at invoice maturity. Through the proposed project, IFC will provide short-term financing through the GTSF program to suppliers in Vietnam, Cambodia, India and China.
Wolverine is a leading global footwear Company. The company was started in 1883 and has been listed on the New York Stock Exchange (“NYSE”) since 1965. Major shareholders of the Company are BlackRock Fund Advisors, the Vanguard Group and other institutional investors.
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Wolverine World Wide, Inc.
Sr. Treasury Manager
9341 Courtland Drive, Rockford, MI 49351
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