Summary of Proposed Investment
Project Number
23010
Company Name
Corporacion Drokasa S.A.
Date SPI Disclosed
Aug 25, 2004
Country
Peru
Industry
Agribusiness and Forestry
Projected Board Date
Sep 25, 2004
Status
Completed
Sector
Fruits and Vegetables
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Sep 30, 2004
Signed : Dec 2, 2004
Project Description
Corporación Drokasa S.A. (the Corporación or the company) is a leading Peruvian agricultural and industrial conglomerate with three core activities:
- the manufacture, marketing and sales of pharmaceutical products;
- the production and export of asparagus and table grapes;
- and the importation and distribution of chemicals, agrochemical, liquors and health and beauty products.
The purpose of the project is to finance maintenance capital expenditure as well as to refinance Corporación and its subsidiaries’s outstanding short-term and long-term debt. The project will be funded through two components:
- the issuance of a $25 million equivalent bond and a $5.0 million commercial paper program; and
- Corporación’s internal cash generation.
The existing debt is the result of a restructuring underwent in 2000 and currently imposes high interest rates and administration costs as well as covenants that inhibit long-term growth.
- the manufacture, marketing and sales of pharmaceutical products;
- the production and export of asparagus and table grapes;
- and the importation and distribution of chemicals, agrochemical, liquors and health and beauty products.
The purpose of the project is to finance maintenance capital expenditure as well as to refinance Corporación and its subsidiaries’s outstanding short-term and long-term debt. The project will be funded through two components:
- the issuance of a $25 million equivalent bond and a $5.0 million commercial paper program; and
- Corporación’s internal cash generation.
The existing debt is the result of a restructuring underwent in 2000 and currently imposes high interest rates and administration costs as well as covenants that inhibit long-term growth.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Max Bromberg Dubreuil, General Manager
Drokasa Peru S.A.,
Carlos Alaysa y Roel 2180,
Lima 14, Peru.
Drokasa Peru S.A.,
Carlos Alaysa y Roel 2180,
Lima 14, Peru.