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
FI-3
Country
Regional
Sector
Financial Institutions
Status
In implementation
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
12/14/2021
Approval date
12/14/2021
Signed date
12/15/2021
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 7,000,000
Financing amount
USD $ 20,000,000
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 and Peru. The proposed operation includes a senior unsecured A/B loan, renewable for four additional periods of up to one year 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 one year; and (ii) a B Loan of up to US$7 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 one year. The funds will support the credit activities that Primus Capital carries out with SMEs in Chile and Peru, financing factoring and leasing operations to mitigate the effects of the COVID-19 pandemic.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
bmoore@primuscapital.cl
PHONE NUMBER
(562) 24112100
POST OFFICE ADDRESS
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.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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.
PRIMUS CAPITAL - 12343-02 - ESRS REV
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