Increase working capital financing dairy cooperative DOC kaas achieved

Mid-January 2015, dairy cooperative DOC Kaas completed the expansion and extension of its working capital finance facilities. In addition to an increase of the existing facilities to € 100 million, the existing banking consortium of Rabobank and ING has been extended with Deutsche Bank as additional lender.
Upon completion of this refinancing, which is structured as a borrowing base revolving credit facility founded on English LMA documentation, DOC Kaas has ample leeway to realise the anticipated growth. The new banking consortium delivers full banking services including payments executions, bank guarantees and interest rate and currency hedging. Ilfa Finance Solutions accompanied the entire process as an adviser to the cooperative.

DOC Kaas
DOC Kaas was founded in 1895 as the Steam dairy factory cooperative. The cooperative counted 108 members producing about 300,000 liters of milk per year. In 1962 the factory joined forces with the Slagharen, Ruinen and Zuidwolde cooperatives and changed its name into "Drents-Overijsselse Cooperative", in short DOC. That year, the 3000 affiliated farmers delivered 80 million kg of milk.
As per 2014, 100 farmers together supply 1,040 million kg of milk, making DOC Kaas an important element in a supply chain in which customers partner suppliers co-operate intensively. In order to accommodate the entire supply chain on one site, a second production facility was realised at the Dairy Park Hoogeveen, in 2003. A cheese factory, a whey factory and warehouses bring together virtually all elements of this supply chain and allow for growth and differentiation. Application of the latest techniques enable DOC Kaas to focus on sustainability, whereas a strive for cost leadership and involvement of product and process innovation create additional added value.

More info?
For more information please contact Ilfa Finance Solutions at +31 (0) 30 760 2110.