Company name

Tanner Servicios Financieros S.A.

Project number

11363-06

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

In implementation

Disclosed date

10/16/2020

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

Projected board date
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12/02/2020

Approval date

12/04/2020

Signed date

12/04/2020

Sponsoring entity

N/A

Team leader

Patti, Lucila Andrea

Investment type

Syndicated amount

USD $ 72,000,000

Financing amount

USD $ 36,000,000

Currency

USD

Project scope and objective

The Project aims to finance Small and Medium-sized Enterprises (“SMEs”) through factoring and financial leasing operations in Chile. The proposed operation consists of a credit facility for approximately US$100 million. The loan will have a tenor for up to five years, and consisting of: (i) an A Loan of up to US$40 million to be financed by IDB Invest; ii) a co-loan of up to US$20 million; and (iii) a B Loan of up to US$40 million to be financed by participating investors. The project will also enable Tanner to expand the financial services it offers to its clients, diversify its sources of financing, and, at the same time, improve the structure of its assets and liabilities.

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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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Contact information

For inquiries, comments and information requests about the project

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Gustavo Inostroza

POSITION

Finance Manager

PHONE NUMBER

+56 2 33257150

EMAIL

gustavo.inostroza@tanner.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