Simpar (SIMH3), the holding company that controls JSL (JSLG3), Movida (MOVI3), Vamos (VAMO3), CS Brasil, CS Infra, Original and BBC Digital, has received approval for USD 250 million in credit lines from IDB Invest, the private sector arm of the Inter-American Development Bank (IDB).
"We are very happy with this achievement. The IDB Invest financing reflects the company's financial solidity and the quality of its debt management strategy, with the confidence of the international market and investors in our companies and in the sustainable management of our businesses," says Denys Ferrez, Simpar's CFO. "In addition, they represent the continuous evolution of the Group's governance practices and socio-environmental policies," he concludes.
The USD 250 million offered by IDB Invest will be granted via two lines of credit - "A" and "B". The "A" credit line represents 48% of the total made available, and has a final maturity of 10 years, with a drawdown period of up to 2.5 years, which will be equally distributed among the subsidiaries JSL, Movida, Vamos and CS Brasil.
Credit line "B" represents 52% of this credit, which will be allocated to Movida with final maturities of 5 to 7 years. IDB Invest acted as coordinator and had the participation of the international banks Bank Of China Limited, MUFG Bank Ltd, Banco Santander S.A. and Banco do Occidente S.A.
The credit line can contribute to five of the United Nations' Sustainable Development Goals (SDGs): Decent Work and Economic Growth (SDG 8), Industry, Innovation and Infrastructure (SDG 9), Responsible Consumption and Production (SDG 12), Action against Global Climate Change (SDG 13) and Partnerships for the Goals (SDG 17). Both lines can be applied to working capital, asset acquisition and projects related to the ESG (Environmental, Social and Governance) agenda - such as decarbonization and fleet renewal. In line with this, a portion of this credit will be made available in the form of a Green Loan to finance projects linked to the Group's sustainable agenda.
"Green is not the future, it's the present. We need action now, and that's why operations like this, which enable the adoption of clean technologies in a relevant sector such as transport, with major clients on the Brazilian scene, such as the SIMPAR group and its companies, are a priority for us, as this will enable us to support a faster and more sustainable economic recovery for Brazil and Latin America in general, as set out in our Vision 2025," says Morgan Doyle, representative of the Inter-American Development Bank Group, which includes IDB Invest, in Brazil.
Simpar reiterates its commitment to reducing greenhouse gas ("GHG") emissions from its operations and has among its objectives defined by the financing, to increase the share of electric vehicles in its fleets, develop innovation projects and integrate systems to reduce the carbon footprint of its operations.
About SIMPAR
Holding company that controls a group of seven independent companies - JSL, Movida, Vamos, CS Brasil, CS Infra, Original and Banco BBC - operating in the logistics and mobility ecosystem. SIMPAR has more than 35,000 employees aligned under the same culture, values and a unique management model that produces sustainable results in line with the best ESG practices. SIMPAR had consolidated gross revenue of R$15.5 billion in 2021 and is present throughout the country, as well as in five South American countries and South Africa. Find out more at: https://simpar.com.br
About JSL
JSL (JSLG3) has the largest portfolio of logistics services in Brazil, operating in 16 sectors of the economy. Present in all Brazilian states and in seven other countries, it operates in all stages of the production chain with embedded technology, generating efficiency in the use of assets, safety and intelligence in its clients' logistics process. JSL includes the companies Fadel, TPC, Transmoreno, Rodomeu and Marvel, totaling 25,000 employees, 86 distribution centers and more than one million square meters dedicated to warehousing. www.jsl.com.br
About Movida Rent a Car
MOVIDA (MOVI3), a Simpar Group company, operates in car rental with innovative solutions for urban mobility. A pioneer in offering services such as monthly rental for individuals, wi-fi in the car, pre-payment and chatbot on social networks, it was the first car rental company in the country to revolutionize the rental sector in Brazil. The company invests in sustainability and was the first listed car rental company in the world to receive the B Corporation Certification - a select group of companies whose business model is social and environmental development. In Brazil, it was the first to have a program such as Carbon Free in 2009, which neutralizes the CO2 emissions of its customers' rentals, and it is the car rental company with the largest fleet of electric cars for rent. In the retail sector, it operates with car rental and the sale of used cars - there are more than 187,000 vehicles, 170 car rental stores and 75 used car sales points - and operates in the corporate market, outsourcing fleets to companies. More information on the Movida website: https://www.movida.com.br
About Vamos
Grupo Vamos (VAMO3), a Simpar Group company, is the market leader in truck, machinery and equipment leasing, with more than 26,000 vehicles leased and operating throughout the country. A pioneer in the segment, it has a large dealership network, comprising 40 of its own Transrio (Volkswagen Caminhões e Ônibus), Fendt (premium agricultural machinery), Valtra (agricultural machinery and equipment), Komatsu (yellow line machinery and equipment distributor) and Toyota Empilhadeiras stores, as well as 11 used-vehicle stores. In February 2021, the company went public and in its first year on B3 it won the ANEFAC Transparency Trophy and the Exame magazine award in the Transportation, Logistics and Logistics Services segment. Find out more at www.grupovamos.com.br.
About CS Brasil
CS Brasil provides services to the public and mixed-economy sectors. The company offers fleet management and outsourcing, including fleet customization, maintenance and operation, with or without a driver. CS Brasil also offers solutions for passenger transportation, urban cleaning and sells used vehicles from its own operations. Find out more at: https://csbrasilservicos.com.br/.
About IDB Invest
IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of US$ 14.8 billion in asset management and 376 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in various sectors.