Rhea-AI Impact
Rhea-AI Sentiment
Rhea-AI Summary
Lavoro (Nasdaq: LVRO), the first U.S.-listed pure-play agricultural inputs retailer in Latin America, has secured a new R$310 million (approximately USD$55 million) credit facility with a three-year term. This facility is financed through a newly established Agribusiness Credit Rights Investment Fund (FIDC-Fiagro), which will invest in agribusiness receivables sold to Lavoro. The proceeds will support Lavoro’s working capital needs and other general corporate purposes.
This is Lavoro’s second FIDC-Fiagro facility, following a R$160 million Fiagro established in 2022. The issuance is split into two series maturing in July 2027, managed by Kanastra Administração de Recursos, with Itaú BBA as the lead coordinator. The offering is exclusive to primary investors such as Itaú BBA and Itaú Asset.
Lavoro (Nasdaq: LVRO), il primo rivenditore di input agricoli quotato negli Stati Uniti in America Latina, ha ottenuto un nuovo finanziamento di R$310 milioni (circa USD$55 milioni) con un termine di tre anni. Questo finanziamento è sostenuto da un nuovo Fondo di Investimento in Diritti di Credito Agribusiness (FIDC-Fiagro), che investirà nei crediti agribusiness ceduti a Lavoro. I fondi saranno utilizzati per supportare le esigenze di capitale circolante di Lavoro e altre finalità aziendali generali.
Questo è il secondo finanziamento FIDC-Fiagro di Lavoro, dopo un Fiagro di R$160 milioni istituito nel 2022. L’emissione è suddivisa in due serie che matureranno a luglio 2027, gestite da Kanastra Administração de Recursos, con Itaú BBA come coordinatore principale. L’offerta è esclusiva per investitori primari come Itaú BBA e Itaú Asset.
Lavoro (Nasdaq: LVRO), el primer minorista de insumos agrícolas en EE.UU. listado en América Latina, ha asegurado una nueva línea de crédito de R$310 millones (aproximadamente USD$55 millones) con un plazo de tres años. Esta línea está financiada a través de un nuevo Fondo de Inversión de Derechos de Crédito Agribusiness (FIDC-Fiagro), que invertirá en cuentas por cobrar del agronegocio vendidas a Lavoro. Los fondos apoyarán las necesidades de capital de trabajo de Lavoro y otros propósitos corporativos generales.
Esta es la segunda línea FIDC-Fiagro de Lavoro, luego de un Fiagro de R$160 millones establecido en 2022. La emisión se divide en dos series que vencerán en julio de 2027, gestionadas por Kanastra Administração de Recursos, con Itaú BBA como coordinador principal. La oferta es exclusiva para inversores primarios como Itaú BBA e Itaú Asset.
라보로(Nasdaq: LVRO)는 라틴 아메리카에서 미국에 상장된 최초의 순수 농업 자재 소매업체로서 3억 1천만 레알 (약 5500만 달러)의 새로운 신용 시설을 3년 기간으로 확보했습니다. 이 시설은 라보로에 판매된 농업 사업 채권에 투자할 새로운 농업 사업 신용 권리 투자 펀드(FIDC-Fiagro)를 통해 자금이 조달됩니다. 조달된 자금은 라보로의 운전자본 필요성 및 기타 일반 코퍼레이트 목적을 지원합니다.
이번은 2022년에 설립된 1억 6천만 레알의 Fiagro에 이어 라보로의 두 번째 FIDC-Fiagro 시설입니다. 이 발행은 2027년 7월에 만기가 되는 두 시리즈로 나누어지며, Kanastra Administração de Recursos에 의해 관리되고 Itaú BBA가 주요 조정자로 활동합니다. 이 제안은 Itaú BBA와 Itaú Asset과 같은 주요 투자자 전용입니다.
Lavoro (Nasdaq: LVRO), le premier détaillant d’intrants agricoles aux États-Unis cotés en Amérique latine, a sécurisé une nouvelle ligne de crédit de 310 millions de R$ (environ 55 millions de USD) avec un délai de trois ans. Cette ligne est financée par un nouveau Fonds d’Investissement en Droits de Crédit Agribusiness (FIDC-Fiagro), qui investira dans des créances d’agrobusiness vendues à Lavoro. Les fonds soutiendront les besoins en fonds de roulement de Lavoro et d’autres fins d’entreprise générales.
Ceci est la deuxième installation FIDC-Fiagro de Lavoro, après un Fiagro de 160 millions de R$ établi en 2022. L’émission est divisée en deux séries arrivant à maturité en juillet 2027, gérées par Kanastra Administração de Recursos, avec Itaú BBA en tant que coordinateur principal. L’offre est exclusive pour les investisseurs primaires comme Itaú BBA et Itaú Asset.
Lavoro (Nasdaq: LVRO), der erste in den USA gelistete reine Einzelhändler für Agrarprodukte in Lateinamerika, hat eine neue Kreditlinie über 310 Millionen R$ (ca. 55 Millionen USD) mit einer Drei-Jahres-Laufzeit gesichert. Diese Linie wird durch einen neu gegründeten Agrarbereich-Kreditrechte-Investmentfonds (FIDC-Fiagro) finanziert, der in Agrarunternehmensforderungen investiert, die an Lavoro verkauft werden. Die Mittel werden die Betriebsbedarfe von Lavoro und andere allgemeine Unternehmenszwecke unterstützen.
Dies ist die zweite FIDC-Fiagro-Finanzierung von Lavoro, nach einem Fiagro von 160 Millionen R$, das 2022 gegründet wurde. Die Emission ist in zwei Serien unterteilt, die im Juli 2027 fällig werden und von Kanastra Administração de Recursos verwaltet werden, wobei Itaú BBA als Hauptkoordinator fungiert. Das Angebot ist exklusiv für Primärinvestoren wie Itaú BBA und Itaú Asset.
Positive
- Secured a new R$310 million (USD$55 million) credit facility
- Three-year term improves debt maturity profile
- Supports ongoing working capital needs and general corporate purposes
- Expands funding sources, optimizing capital structure
- Second successful FIDC-Fiagro facility, demonstrating market confidence
The establishment of a new R$310 million credit facility is a significant financial development for Lavoro. This FIDC-Fiagro structure provides several advantages:
- Improved liquidity: The facility bolsters Lavoro’s working capital, enhancing operational flexibility.
- Optimized capital structure: The 3-year term extends debt maturity, potentially reducing short-term financial pressure.
- Diversified funding: This second FIDC-Fiagro broadens Lavoro’s funding sources, reducing reliance on traditional financing.
The exclusive nature of the offering to primary investors like Itaú BBA suggests strong institutional confidence in Lavoro’s financial health. However, investors should note that while this facility supports growth, it also increases Lavoro’s debt obligations, which could impact future financial ratios.
This financing move by Lavoro reflects broader trends in the Latin American agribusiness sector:
- Growing sophistication in agricultural financing instruments
- Increasing investor interest in agribusiness-specific financial products
- A shift towards longer-term financing solutions in the sector
The R$310 million facility, nearly double the size of Lavoro’s 2022 FIDC-Fiagro, suggests strong market demand for agribusiness-related investments. This could indicate positive growth prospects for the sector. However, the exclusive nature of the offering might limit broader market participation, potentially affecting liquidity in secondary markets for similar instruments.
SÃO PAULO, Aug. 02, 2024 (GLOBE NEWSWIRE) — Lavoro Limited (Nasdaq: LVRO), the first U.S.-listed pure-play agricultural inputs retailer in Latin America, today announced the establishment of a new R$310 million (approximately USD$55 million based on current exchange rates) credit facility with a three-year term, financed through a new Agribusiness Credit Rights Investment Fund (FIDC-Fiagro).
The newly established Lavoro Agro Fundo de Investimentos nas Cadeias Produtivas Agroindustriais (FIDC-Fiagro), established under Brazilian agribusiness investment fund regulations with the purpose of investing in agribusiness receivables sold to Lavoro.
The proceeds from this issuance will be used to support Lavoro’s ongoing working capital needs and other general corporate purposes. This represents Lavoro’s second FIDC-Fiagro facility, following the inaugural R$160 million Fiagro established in 2022.
Commenting on the financing, Ruy Cunha, CEO of Lavoro, stated: “This new Fiagro marks another step in our commitment to optimizing our capital structure, helping support our long-term growth plans by improving debt maturities and broadening our range of funding sources.”
The issuance, split into two series maturing in July 2027, is managed by Kanastra Administração de Recursos, with Itaú BBA as the lead coordinator. The offering is exclusive to primary investors such as Itaú BBA and Itaú Asset, with no plans for secondary market distribution.
About Lavoro
Lavoro Limited is Brazil’s largest agricultural inputs retailer and a leading producer of agriculture biological products. Lavoro’s shares and warrants are listed on the Nasdaq stock exchange under the tickers “LVRO” and “LVROW.” Through its comprehensive portfolio of products and services, the company empowers small and medium-size farmers to adopt the latest emerging agricultural technologies and enhance their productivity. Since its founding in 2017, Lavoro has broadened its reach across Latin America, serving 72,000 customers in Brazil, Colombia, and Uruguay, via its team of over 1,000 technical sales representatives (RTVs), its network of over 210 retail locations, and its digital marketplace and solutions. Lavoro’s RTVs are local trusted advisors to farmers, regularly meeting them to provide agronomic recommendations throughout the crop cycle to drive optimized outcomes.
Forward-Looking Statements
The contents of any website mentioned or hyperlinked in this press release are for informational purposes and the contents thereof are not part of or incorporated into this press release.
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “aims,” “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the expectations regarding the growth of Lavoro’s business and its ability to realize expected results, grow revenue from existing customers, and consummate acquisitions; opportunities, trends, and developments in the agricultural input industry, including with respect to future financial performance in the industry. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lavoro.
These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, the outcome of any legal proceedings that may be instituted against Lavoro related to the business combination agreement or the transaction; the ability to maintain the listing of Lavoro’s securities on Nasdaq; the price of Lavoro’s securities may be volatile due to a variety of factors, including changes in the competitive and regulated industries in which Lavoro operates, variations in operating performance across competitors, changes in laws and regulations affecting Lavoro’s business; Lavoro’s inability to meet or exceed its financial projections and changes in the consolidated capital structure; changes in general economic conditions; the ability to implement business plans, forecasts, and other expectations, changes in domestic and foreign business, market, financial, political and legal conditions; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; costs related to the business combination and being a public company and other risks and uncertainties indicated from time to time in the proxy statement/prospectus filed by Lavoro relating to the business combination or in the future, including those under “Risk Factors” therein, or Lavoro’s other filings with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lavoro currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.
In addition, forward-looking statements reflect Lavoro’s expectations, plans, or forecasts of future events and views as of the date of this press release. Lavoro anticipates that subsequent events and developments will cause Lavoro’s assessments to change. However, while Lavoro may elect to update these forward-looking statements at some point in the future, Lavoro specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lavoro’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Contact Information:
Tigran Karapetian, Head of Investor Relations
tigran.karapetian@lavoroagro.com
Fernanda Rosa, Investor Relations Coordinator
fernanda.rosa@lavoroagro.com
FAQ
What is the value and purpose of Lavoro’s new credit facility?
Lavoro (LVRO) has secured a new R$310 million (approximately USD$55 million) credit facility to support its ongoing working capital needs and other general corporate purposes.
What is the term of Lavoro’s new FIDC-Fiagro credit facility?
The new FIDC-Fiagro credit facility for Lavoro (LVRO) has a three-year term, with the issuance split into two series maturing in July 2027.
Who are the key players involved in Lavoro’s new credit facility?
Lavoro’s (LVRO) new credit facility is managed by Kanastra Administração de Recursos, with Itaú BBA as the lead coordinator. Primary investors include Itaú BBA and Itaú Asset.
How does this new facility compare to Lavoro’s previous FIDC-Fiagro?
This R$310 million facility is Lavoro’s (LVRO) second FIDC-Fiagro, following an inaugural R$160 million Fiagro established in 2022, indicating growth in their financing capabilities.
