The goal is to finance the working capital needs of the Chilean distributor of agricultural inputs.

The International Finance Corporation (IFC), a member of the World Bank Group, has officially announced its intention to subscribe to securitized bonds for up to the equivalent in Chilean pesos of US$25 million.

The objective is to finance the working capital needs of Copeval, one of the main distributors of agricultural inputs in Chile.

The company currently reaches 50,000 farmers through its 24 stores and three distribution centers nationwide.

“IFC will support Copeval’s ongoing working capital needs, which are essential to finance pre-harvest inputs and services for its network of farmers. IFC will subscribe to securitized bonds in pesos for an equivalent amount of up to US$25 million, which will be structured through a securitization of part of Copeval’s accounts receivable from its producers,” the IFC states on its website.

“This operation has a double meaning for us. On the one hand, it contributes to our operation, especially with the financial support to our clients, while on the other we are grateful for the IFC's trust in the work we are doing at Copeval,” says Jorge Lorenzoni, general manager of Copeval.

It is worth noting that Copeval is listed on the Santiago Stock Exchange and its main shareholders are the Martino, Bozzo and Ariztía families, who hold 54% of the shares, and the IFC, with 16.8% of the shares.