Company name

Primus Capital S.A.

Project number

12343-02

FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.

E&S category
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FI-3

Country

Chile

Sector

Financial Institutions

Status

Proposed

Disclosed date

10/08/2021

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

Projected board date
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12/08/2021

Approval date

12/08/2021

Signed date

N/A

Sponsoring entity

N/A

Team leader

Paredes, Cristina

Investment type

Financing requested

N/A

Syndicated amount

USD $ 5,000,000

Financing amount

USD $ 15,000,000

Currency

USD

Project scope and objective

The project aims to finance small and medium-sized companies (SMEs) through factoring and financial leasing operations in Chile. The proposed operation includes a senior unsecured A/B loan, renewable for two additional periods of up to two years at the discretion of IDB Invest, composed of: (i) an A Loan of up to US$15 million to be financed by IDB Invest, for a term of up to two years; and (ii) a B Loan of up to US$5 million to be financed by commercial banks, other financial institutions, or other entities through the signing of participation agreements, for a term of up to 1.5 years. The funds will support the credit activities that Primus Capital carries out with SMEs in Chile, financing factoring and leasing operations to mitigate the effects of the COVID-19 pandemic.

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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.

PRIMUS CAPITAL - 12343-02 - ESRS

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Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Brian Moore

POSITION

Operations and Finance Manager

PHONE NUMBER

(562) 24112100

EMAIL

bmoore@primuscapital.cl

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