Company name

Frisa Industrias S.A. de C.V. y subsidiarias incorporadas en México. (“Frisa” o la “Compañía”).

Project number

13284-01

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

Proposed

Disclosed date

05/03/2021

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

Projected board date
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07/21/2021

Approval date

N/A

Signed date

N/A

Team leader

De la Fuente, Miguel

Investment type

Financing requested

USD $ 50,000,000

Syndicated amount

N/A

Financing amount

USD $ 50,000,000

Currency

MXN

Project scope and objective

The transaction consists of an uncommitted revolving reverse factoring facility (the "Transaction") to be provided by IDB Invest to Frisa Industrias S.A. de C.V. and its subsidiaries incorporated in Mexico  (“Frisa” or “the Company”). IDB Invest may, at its sole discretion: purchase and discount supplier credit rights payable by Frisa, previously confirmed by the latter, through an eligible electronic platform.



Frisa is a Mexican company engaged in the design, forging, manufacturing, machining, and marketing of rolled rings for industrial uses, made from carbon, alloy, stainless, titanium, and superalloy steels for the following industries: aerospace, construction and mining, industrial machinery, oil and gas, wind energy, and power generation.



Through the Transaction, IDB Invest seeks to facilitate financing at competitive prices to Frisa's Micro, Small and Medium-Sized Enterprises ("MSMEs") suppliers in Mexico, through the discount or monetization of their credit rights derived from the sale of goods and/or services to Frisa. The average maturity of the credit rights under the Transaction is expected to be 180 days. Reverse factoring solutions aim to facilitate access to affordable financing for suppliers, 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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

FRISA - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

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FRISA - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

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Contact information

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Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Ana Elsa Casillas Montaño

POSITION

Financial Planning, Treasury, and Risk Management

PHONE NUMBER

+52 (81) 8218 5561

EMAIL

ana.casillas@frisa.com

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