Company name

AlEn del Norte, S.A de C.V y subsidiarias incorporadas en México. (“AlEn” o la “Compañía”).

Project number

13283-01

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
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B

Country

Mexico

Sector

Manufacturing

Status

In implementation

Disclosed date

02/23/2021

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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08/06/2021

Approval date

08/06/2021

Signed date

11/08/2021

Sponsoring entity

N/A

Team leader

Aguirre Hernandez, Alma Iliana

Investment type

Syndicated amount

N/A

Financing amount

USD $ 28,000,000

Currency

MXN

Project scope and objective

The transaction consists in a noncommitted revolving reverse factoring facility (the “Transaction”) to be provided by IDB Invest to AlEn del Norte, S.A. de C.V. and its incorporated subsidiaries in Mexico (“AlEn” or the “Company”). At its sole discretion, IDB Invest will be entitled to: purchase or discount the credit rights held by suppliers payable by AlEn previously confirmed by the latter through an eligible electronic platform.

 

 

AlEn is a Mexican company engaged in manufacturing, packing and selling liquid chemical products distributed in the household cleaning products market. Its supply chain in Mexico is made up by 2,500 suppliers, mostly micro-, small- and medium-sized enterprises (MSMEs).

 

 

 

 

Through the Transaction, IDB Invest seeks to enable financing at competitive prices for AlEn’s suppliers in Mexico by discounting or monetizing their credit rights arising from the sale of goods and/or services to AlEn. The average expiry of the credit rights under the Transaction is expected to be 180 days. Reverse factoring solutions are aimed at enabling access to viable financing to suppliers which are mostly MSMEs.

 

 

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

ALEN - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) AND ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Imelda Loveli Suarez Silva

POSITION

Treasury Management

PHONE NUMBER

+ 52 81 8122 1000

EMAIL

loveli.suarez@alen.com.mx

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices