Sigma Alimentos

in implementation

The transaction consists of a revolving, uncommitted discount facility of up to US$50 million for IDB Invest's purchase from E-Factor (which acts as a financial intermediary) of accounts payable (credit rights) denominated in dollars (US$) or Mexican pesos (MXN) that fullfill certain eligibility criteria and  that are confirmed by subsidiaries of Sigma Alimetos S.A. de C.V. ("Sigma" or "the Company") in the Dominican Republic, Costa Rica, Ecuador, Peru, Guatemala, Nicaragua, Honduras, El Salvador, and Mexico. The credit rights will be evidenced by invoices arising from the sale of goods or the provision of services by Sigma suppliers.This transaction seeks to support Sigma’s supplier base in countries in Latin America and the Caribbean that lack supplier finance programs for the purchase of accounts payable to suppliers, including Small and Medium Enterprises (SMEs). The instrument will allow to incorporate suppliers into Sigma's value chain, giving them access to efficient commercial financing under competitive conditions (costs, terms, etc.) in countries such as, first, the Dominican Republic, Costa Rica, Ecuador and Peru, and then Guatemala, Nicaragua, Honduras and El Salvador, as these are countries where companies often struggle to finance their working capital. This transaction is in line with Sigma’s responsible supply strategy, which focuses on fostering the growth of its suppliers and mitigating its businesses’ risk factors, including supplier development programs that incorporate training and advisory.Amendment on July 25, 2022The transaction is including Sigma's supply chain, suppliers from the following countries: Argentina, Brazil, Chile, Colombia, Panamá  and Uruguay.