PROJECT

Projects

Summary of Investment Information

Project Number

48627

Company Name

Fideicomiso CSB

Date SPI Disclosed

Aug 5, 2024

Country

Mexico

Region

Latin America and the Caribbean

Projected Board Date

Mar 15, 2024

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Aug 5, 2024

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Mar 15, 2024
Signed : Jul 22, 2024
Invested : Jul 26, 2024

Sector

Commercial Banking - General

Project Description

The investment supports a MXN2,200 million (~US$129 million equivalent), 5-year tenor, private-listed placement of a social asset-backed securitization issued by a special purpose vehicle (the Issuing Trust) serviced by Consubanco, S.A., Institucion de Banca Multiple (CSB or the Bank). IFC played an anchor investor role through the subscription of MXN1,100 million (~US$64.5 million equivalent) on an own account basis and played a catalytic role to mobilize MXN1,100  million (~US$64.5 million equivalent) from other institutional investors (the Project). The Issuing Trust acquired and will hold the loans originated by CSB, to pensioners and women, and those assets are expected to be the only source of repayment for the bond.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation