Company name

Mexarrend S.A.P.I de C.V

Project number

13770-01

FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.

E&S category
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FI-2

Country

Mexico

Sector

Financial Institutions

Status

Hold

Disclosed date

02/14/2022

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

Projected board date
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04/14/2022

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Eskildsen Alfaro, Jan Petter

Investment type

Syndicated amount

N/A

Financing amount

USD $ 24,840,900

Currency

MXN

Project scope and objective

The Project consists in a guarantee facility to be granted to Mexarrend, S.A.P.I. de C.V. (the “Issuer”) for up to MXN500 million, about US$25 million, with a tenor of up to three years. The first partial credit guarantee (“PCG”) granted under the Facility will amount to up to MXN250 million, the equivalent to 50% of the total common senior partially-secured long-term corporate bonds (the “Bonds”) to be issued by the Issuer. The Bonds will be preferably considered Social Bonds, with a gender and financial inclusion approach . The proceeds from the bond issuance will be used to fund leases to be granted in Mexico to small and medium-sized enterprises (“SMEs”). Because they would be Social Bonds, they would be gender and financial inclusion oriented. The Project will be supplemented with technical advisory services to help finalize the issuance and other strategic aspects for the Issuer. 

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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.

MEXARREND — MEXICO 13770-01 ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

143.4 Kb

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Ramón Barreda

POSITION

Investors Relations and Funding Director

PHONE NUMBER

+55 5004 68 16

EMAIL

contacto@mexarrend.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