Net proceeds to fund upcoming acquisitions and development projects.
Emergent Cold LatAm, the largest provider of temperature-controlled food storage and logistics solutions in Latin America, announced today the successful completion of a new US$ 250 million term loan credit facility. The Company intends to use net proceeds from this loan to fund upcoming acquisitions and development projects.
The term loan will be provided by a syndicate of investors led by CPPIB Credit Investments Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board (“CPP Investments”).
“The completion of this financing strengthens our investment capabilities going forward and supports the implementation of our ambitious strategic plan,” said Pedro Moreira, Chief Financial Officer of Emergent Cold LatAm. “We look forward to our new partnership with CPP Investments and the other members of our term loan syndicate.”
Deutsche Bank AG served as sole arranger of the financing transaction. Simpson Thacher & Bartlett LLP represented Emergent Cold LatAm.
