Company name
Xignux S. A. de C. V.
Project number
12124-02
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
B
Country

Mexico
Sector

Manufacturing
Status
In implementation
Disclosed date
04/10/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
05/12/2018
Approval date
06/19/2018
Signed date
04/29/2020
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 21,419,500
Currency
MXN
Project scope and objective
This summary includes a Project for the Mexican conglomerate Xignux. The Project is an Uncommitted Revolving Line of Credit for Mex$400 million, or its equivalent in US$ (“Xignux Facility”) to purchase accounts payables issued by Xignux or one of its eligible subsidiaries. The Facility will have an initial tenor of 12 months, renewable on a yearly basis at IDB Invest’s discretion for up to 6 additional years.
The Facility will provide Xignux´s suppliers with an innovative alternate solution to finance its working capital needs, using E-Factor Network platform to sell to IDB Invest Xignux’s accounts payables. This solution will enable the supplier base (including small and medium size companies, “SME’s”) to obtain more favorable financing conditions than those they can obtain in the local market on their own. SME’s Supply Chain Financing through corporates like Xignux is one of the ways IDB Invest will focus in this segment. This kind of solutions are aligned with IDB Invest’s innovative approach with SME’s.
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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
jorge.siller@xignux.com
PHONE NUMBER
+52 1 81 8040 6610
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 OfficesFor 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.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
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