Lead party: ETC Group (borrower)
Coverage: The Meridian legal market record (editorial).
FMO and TDB Group co-arranged a US$600 million sustainability-linked syndicated loan for ETC Group (ETG), upsized from US$394 million. Participants include DEG, FinDev Canada, OPEC Fund, Proparco, FMO IM, ILX Fund, ADB, CDP, Finnfund, Impact Fund Denmark and OeEB. It funds working capital for ETG’s agricultural value chain operations in Africa and, via ADB, Asia. Margins are tied to sustainability targets. No law firms are named.
Value (as reported): US$600 million.
Other advisers: FMO, TDB Group (co-arrangers).
Parties: Borrower: ETC Group; Co-arrangers: FMO, TDB Group; Lenders: DEG, FinDev Canada, OPEC Fund, Proparco, ILX, ADB, CDP, Finnfund, IFU, OeEB and others.
Jurisdiction (as reported): Pan-African · Sector (as reported): Agri-commodities / Sustainability-linked finance.
Source: LinkedIn firm publication, posted 26 August 2026. Meridian record LI-DL-2026-0202.
Target: ETC Group Limited (private company) · Sector: Consumer Staples, Agriculture, Agricultural Products, Packaged Food and Meats, Fertilisers Pesticides and Seeds · Countries of operation: Burkina Faso, Mozambique, Kenya, Tanzania, Malawi, Nigeria, South Africa, Benin, Côte d’Ivoire
Transaction type: Debt Financing · Asset class: Private Credit · Strategy: Direct Lending · Instrument: Syndicated Loan · Deal amount: US$600m
Lead investor/buyer: Netherlands Development Finance Company (FMO), Trade and Development Bank · Investors/buyers: Netherlands Development Finance Company (FMO), Trade and Development Bank, Deutsche Investitions-und Entwicklungsgesellschaft (DEG), Development Finance Institute Canada (FinDev Canada), OPEC Fund for International Development (OFID), Proparco, FMO Investment Management, ILX Fund, Asian Development Bank, Cassa Depositi e Prestiti S.p.A. (CDP), Finnish Fund for Industrial Cooperation Ltd. (FINNFUND), Impact Fund Denmark, Austrian Development Bank (OeEB)
Source: announced 31 July 2026. Original announcement: tdbgroup.org.
