PROJECT

Projects

Summary of Investment Information

Project Number

31812

Company Name

Virgin Mobile Chile Spa

Date SPI Disclosed

May 4, 2012

Country

Chile

Region

Latin America and the Caribbean

Projected Board Date

Jun 15, 2012

Environmental Category

C - No Impact

Status

Completed

Last Updated Date

May 5, 2024

Department

TMT, Venture Capital & Funds

Industry

Telecommunications and Technology

Previous Events

Approved : Jun 13, 2012
Signed : Aug 6, 2012
Invested : Aug 10, 2012

Sector

Mobile Telephony

Project Description

Virgin Mobile Latin America (“VMLA” or “the Sponsor”) has Mobile Virtual Network Operator (“MVNOs”) licenses in Chile, Colombia, Mexico and Peru, and has filed for license in Uruguay, Bolivia, Brazil and Argentina. VMLA has recently launched operations in Chile. IFC will be providing up to US$11 million C loan to fund Virgin Mobile Chile SpA (“VMC” or “the Company”). VMC will be offering mobile phone services targeting the youth segment with a targeted offering that will expand mobile broadband usage with attractive data packages.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation