IFC considers joining $180m financing for Vietnam-based GreenFeed

Company website

The International Finance Corporation (IFC), part of the World Bank, is considering participating in a $180 million financing for the Vietnamese animal and aqua feed producer Greenfeed Vietnam Corporation.

The project will be funded by 1 trillion ($43 million) worth of IFC bonds, with a maturity of up to seven years, $75 million in bank borrowings, and $62 million equity and/or internal cash generation, IFC said in an investment proposal.

Founded in 2003, GreenFeed has integrated operations across the pork value chain, from feed production, pig breeding, and commercial pig farming to pig slaughtering, and pork processing.

IFC said its proposed financing will support the expansion of GreenFeed’s commercial pig farming capacity and some maintenance of GreenFeed’s feed mills in Vietnam.

While being mainly operated in Vietnam, the company also has feed production operations in Cambodia, Laos, and Myanmar. IFC said GreenFeed is currently the fifth-largest feed producer in Vietnam and among the largest locally built integrated players.

GreenFeed’s major shareholders are Oriental Ford Holding and Quang Dung Trading Co Ltd, according to IFC. Oriental Ford is a Hong Kong-domiciled business, and Quang Dung is also an animal feed company, which are both linked to GreenFeed’s chairman Ly Anh Dung, according to DealStreetAsia’s research.

Prior to the financing proposal for GreenFeed, IFC has backed millions of US dollars in the Vietnamese livestock industry, including investments in poultry firm Bel Ga and veterinary medicine business Anova Corp.

IFC’s other investments in the sector include Guangxi Yangxiang, Shenzen Alpha Feed, and Muyuan Foods in China, and India’s Suguna Group.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.