Brandix Apparel Limited

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Brandix Lanka Limited (“Brandix Group”, the “sponsor” or the “Group”) is one of the leading apparel manufacturers with operations in Sri Lanka, India, Bangladesh, Haiti and Cambodia and employing over 60,400 workers. It began operations in 1972 and the global footprint includes 28 manufacturing facilities (21 in Sri Lanka, 4 in India and one facility each in Bangladesh, Cambodia and Haiti). Brandix Apparel Limited (“Brandix” or the “company”) is a 100% subsidiary of Brandix Lanka Limited covering the Sri Lankan operations (i.e. 21 manufacturing facilities). The company manufactures Activewear, Casualwear, Intimate wear and Sleep & Loungewear for customers such as Uniqlo, Calvin Klein, Marks & Spencer, Victoria’s Secret and PVH among others. With the exception of one wet processing facility involving dyeing and washing using hazardous chemicals, all facilities operated by Brandix in Sri Lanka only involve cut and sew operations.  The proposed IFC investment is a senior long-term loan for up to US$ 50 million to Brandix to finance the medium and long-term term working capital requirements and the growth and maintenance of capital expenditure in Sri Lanka (the “Project”). The proceeds from the proposed investment will be used exclusively for the company’s Sri Lankan operations.