The Latin American Bank for Foreign Trade has granted Dos Pinos a syndicated loan of $100 million over five years, for three of the companies belonging to the cooperative.
The loan is amortizable, has a term of five years and will be used to improve the debt maturity profile of the Company.
Transnieve Ltd., Corporación Industrial Americana Ltd. and Productos Nevada S. de R.L., companies belonging to Dos Pinos, will be specifically awarded.
The funds will be used to improve the Company's debt maturity profile.
The German Development and Investment Bank will grant a $19 million loan to Cooperativa de Productores de Leche Dos Pinos R.L., part of which will be invested in modernizing and expanding two production plants.
Other projects to be financed with the proceeds will include the renovation of the cold chain infrastructure and improving efficiency in the use of resources during the production process.
The Costa Rican cooperative Dos Pinos plans to reduce the deficit of 110 million liters of milk registered in the country where 300 million liters is consumed a year.
The Costa Rican firm plans to invest $5 million per year for the next five years as part of its market expansion strategy to position itself in the Panamanian dairy industry.
After the Costa Rican Dos Pinos company and the Panama Diary Cooperative are joined up, the Dos Pinos brand will be produced, manufactured and sold in Panama.
According to pa-digital.com.pa:"The cost of the investment by COOPRALAC was $2 million; 51% of the shares belong to Dos Pinos and 49% to COOLECHE."
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