TOI COMMODITIES SA
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Trans-Oil Group is a leading vertically integrated farming, oilseed crushing, trading and transportation logistic provider with operations in Moldova and Ukraine. The company owns a distribution and export network in Moldova with extension to the Black Sea region and upstream to the Danube basin. More than 80% of the sales of the Company are exported to EU, Turkey and Asia.
What is our funding objective?
FMO arranged an up-to USD 35 mln syndicated Pre-Crop Facility – a 1-year working capital facility to fund farming campaign of 2020 marketing season. FMO’s participation will be up to USD 10 mln with additional USD 25 mln syndicated to commercial banks.
Why do we fund this investment?
To support farming in Moldova in general and an agribusiness player in the country by funding Trans-Oil Group’s seasonal working capital needs and help Moldova to earn hard currency.
What is the Environmental and Social categorization rationale?
Cat. B. Trans-Oil runs a comprehensive environmental and social management system at the company’s facilities. Core E&S risks are associated with social and climate vulnerability risks in the Moldovan agricultural sector. This FMO facility will enable Trans-Oil to analyze and manage identified risks. FMO’s environmental and social due diligence indicates that the intended investment will have impact which must be managed in a manner consistent with the following Performance Standards: PS 1 – Assessment and Management of Environmental and Social Risks and Impacts; PS 2 – Labor and working conditions; PS 3 – Resource Efficiency and Pollution Prevention; PS 4 – Community Health, Safety and Security. IFC Performance Standards 5 to 8 are not applicable as the project does not include land acquisition and resettlement; and no biodiversity threats, no indigenous people and no cultural sites are identified in the area of influence of the project. The Company will monitor any development, which would trigger these Performance Standards through the Environmental and Social Management System.
More investments
- Region
- Europe & Central Asia
- Country
- Moldova, Republic of
- Sector
- Agribusiness, Food & Water
- Publication date
- 2/25/2020
- Effective date
- 4/30/2020
- End date
- 6/2/2022
- Total FMO financing
- USD 10.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B