Almacenadora Mercader S.A. V

in implementation

ALMER is a bonded warehouse (Almacén General de Depósito) subject to oversight by the Comisión Nacional Bancaria y de Valores (CNBV). ALMER was established in July 1998 when the three warehouses composing the state-owned company Almacenes Nacionales de Depósito (ANDSA) were privatized. ALMER is the largest bonded warehouse operator in Mexico. It serves 21 states, operating 14 warehouse complexes directly in 8 states and 325 smaller ones under license in 13 states. ALMER also has a railroad grain terminal and other transportation infrastructure.The proposed operation is to renew financing for the existing program for the storage and/or purchase of grain, mainly white corn (as well as wheat and sorghum) from approximately 750 small farmers. As part of the project, ALMER will continue to use the IIC loan to provide financing to small producers by either purchasing their goods with an option to repurchase (repos) or storing them until they are sold. In both cases ALMER will issue warehouse receipts, which will secure the IIC's loan. This will be the IIC’s first loan to ALMER in Mexican pesos.