PROJECT

Projects

Summary of Investment Information

Project Number

44285

Company Name

Under Armour, Inc.

Date SPI Disclosed

Nov 25, 2020

Country

World Region

Region

Global

Projected Board Date

Nov 5, 2020

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jan 15, 2021

Department

Gbl Ind, Manufact, Agribus & Services

Industry

Manufacturing

Previous Events

Approved : Sep 21, 2010
Signed : Jan 4, 2021
Invested : Jan 28, 2021

Sector

Garment and Apparel (With Primary Textile Operations, Excluding Footwear)

Project Description

This project is proposed under IFC’s Global Trade Supplier Finance program (“GTSF” or the “Program”) approved by the IFC Board on September 21, 2010 (Original Project #28723).  Under GTSF, IFC provides short-term financing to suppliers (“Suppliers”) in emerging markets selling to large companies (“Buyers”) on open account terms. Under this project, IFC will provide financing to Under Armour Inc (“Under Armour” or “the Company”) for Suppliers based in Latin America & Caribbean region and other emerging market countries. 

Associated Advisory Engagement

Currently, there is no Advisory Services engagement. GTSF Advisory in coordination with IFC E&S specialist and Under Armour intend to develop the sustainability-linked pricing grids once COVID impacts pass.

Sponsor / Cost / Location

E&S Category Rationale / Risks and Mitigation