Jamaica Broilers

inactive

The proposed operation consists of the following financing facilities:1. IDB Invest Guarantee: IDB Invest will issue a local currency guarantee for up to an equivalent amount of US$11 million in favor of Sagicor to provide competitive financing to Jamaica Broilers Group Limited (“JBGL” or the “Company”) in local currency. In turn, Sagicor will provide JBGL a 3-year tenor senior loan in local currency for up to an equivalent amount of US$10 million to finance its working capital needs, which consist in chicks, feeds, services and financing provided to farmers, in order to support the Company´s growth.2. IDB Senior Loan I: The IDB will provide to Haiti Broilers S.A. (“HB”) a 2-year senior loan in local currency for up to an equivalent amount of US$2 million to provide working capital financing to small and medium farmers (of broilers and layers) that supply HB. The local currency will be offered by using the exchange rate hedge offered by TCX.3. IDB Senior Loan II: The IDB will provide to HB an 8-year senior loan in local currency for up to an equivalent amount of US$3 million to finance the acquisitions of the land where HB currently has its chicken houses. The local currency will be offered by using the exchange rate hedge offered by TCX.JBGL began operations 60 years ago and is the leading poultry manufacturer in Jamaica with an estimated market share of 40% and the largest poultry producer in the Caribbean. JBGL is a vertically integrated company producing and selling chicken meat and processed chicken meat products, table eggs, fertile eggs, baby chicks, animal feed, and other agricultural products. In the year ended in April 2017, JBGL sold 45 million tons of poultry, 155 million tons of animal feed and 15 million chicks, having revenues for around US$345 million.The Company has grown over the years expanding its operations to United States and Haiti, establishing HB in 2010 in a joint venture with Haiti Partners S.A., a local Haitian partner. HB established its production facilities in 2012, focused on table eggs, broiler meat, chicks and feed. Currently, accounts for 4,0% of JBGL’s consolidated revenues, totaling US$12.6 million in the year ended in April 2017.