Company name
Axtel S.A.B. de C.V. and its subsidiaries
Project number
12134-01
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
B
Country
Mexico
Sector
Digital Economy
Status
Completed
Disclosed date
02/11/2017
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/12/2017
Approval date
12/12/2017
Signed date
04/27/2018
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 40,000,000
Currency
MXN
Project scope and objective
The project consists of financing via factoring of the more than 1,500 active suppliers of in Axtel’s supply chain.
The transaction consists of IDB Group participation in the financing, via electronic factoring, of suppliers in Axtel’s supply chain through a revolving and uncommitted discount line for a maximum amount of US$40,000,000 (forty million U.S. dollars) or the equivalent thereof in Mexican pesos. Under that discount line, the IIC will acquire, at its full discretion and through the electronic platform of E Factor Network, S.A. de C.V. (“EFN”), credit rights against Axtel of eligible suppliers which have previously been acquired by E Factor Diez, S.A. de C.V. SOFOM ENR (“EFD”).
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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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.
ENVIRONMENTAL AND SOCIAL REVIEW
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