“The truth is that in many cases abound in the market, the shareholders, seeing prices at 70 or 60 years old, one should say as financial:“ Restructure that you reduce 40% of your debt ”; Or, at these prices, it is convenient to go to convey, but it was not what the shareholders decided, who knows the business plan, a good evolution and decided to make a loan from the loan, with others on the market. ” On others in the market. “.
Pablo Ferrari says, the financial director of San Migel, the main industrial processor of the world lemons, which, according to the company, ended up in a thick financial climate, which was installed on the market in June to finance several Argentinean companies.
Despite the fact that agricultural origin, its activity is far from the reality of the financial barefoot agricultural supplies that were caught in a trap from the differential costs and a cheap dollar, which led to the sequence of default.
In this context, Ferrari and the general director of the company Manuel Suarez Altun explained that they had to fulfill clear obligations to the International Financial Corporation and other financial institutions that forced them to make all the necessary efforts to go to the market before indicating a step in the contracts.
“We see great interest between international investors, so this is happening today in Argentina. This, mixed with our business, which gives the expected result, so we see that there is an opportunity, ”explains Suarez Altun.
Consequently, while market rates, saturated with the great radiators of 2024, to capture dollars from laundering money, 9.5% TNA fled, San Migel did not reach the expected offers, canceled the issue and for a moment was barefoot to pay 53 million US dollars at the end of last month. The hole was filled with six months of loan, capitalized by shareholders of $ 15 million, and the service was completed on June 26.
Strategy
Martin’s signature Other Monsgur, Gonzalo Tanoirs, Luis Rock -Othero Monsgur, Alehandro de Anchoren (h), Christian Lopez Saubidet and Agustin Otro Monssur, who have Uruga and Southern Africa, which they have Uruugi and Southern (20%), which they have Uruugi and South South (20%) that they have Uruugi and South (20%). Fresh lemon business to go to industrialization.
They produce juices, oils and lemon entities and are world leaders.
“The shareholders are well aware of what will happen with the future income,” Ferrar explains.
In recent years, they have financed expansion by contributions by shareholders and periodic exits to the market with a hard dollar for 24 months and a stable rate of 9.5% TNA. Now they are preparing a new financial program on which they do not give details, but this will allow them to be structured financing with the participation of foreign investors.
“We see great interest between international investors, so this is happening today in Argentina. This, mixed with our business, which gives the expected result, so we see that there is an opportunity, ”explains Suarez Altun.
In order to support projects, lighten the financial strategy and underlie capitalization, the board of directors of San Migel has already approved the subsequent action (expanding the output of incoming actions) and now trusts the possibilities of new structured financing. This semester will be crucial for achieving both goals.
The strategy probably seeks to reduce the cost of capital, at a level similar to obtaining export of refinancing, and stop financing with the help of a debt or long -term investment.
“But good, that was what was available earlier in Argentina,” they say, resigned, waiting for a new investment flow at the market.
