Summary of Proposed Investment
Project Number
4156
Company Name
TITULARIZADORA COLOMBIANA SA
Date SPI Disclosed
May 8, 1997
Country
Colombia
Industry
Financial Markets
Status
Completed
Sector
Secondary Mortgage Institutions
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Oct 19, 2000
Signed : Jul 11, 2001
Invested : Jul 13, 2001
Project Description
Summary Of Project Information (SPI)
| Project Name | Colombia-Colombia Home Mortgage Corporation (“CHMC”) |
| Region | Latin America |
| Sector |
Projected Board DateJune 30, 1997
Company NameTo be determined when created.
Technical Partner and/or Major Shareholders
Davivienda S.A., Colmena S.A., Conavi S.A. and Corporación Financiera del Valle S.A. (all are major financial institutions in Colombia).
Project Cost (including IFC investment):
Project Cost of US$20 million in equity.
IFC Investment of US$3 million in equity.
Location of project and Description of site
Santa Fé de Bogotá, Colombia. Office space to be leased.
Description of Company and Purpose of Project
The Project consists of creating a new company with an initial capitalization of US$20.0 million to promote asset securitization in Colombia by focusing initially on home mortgage assets. The Project has important social, institutional, and capital markets benefits. Namely, it will help increase funding for home construction and increase the head room of the country’s mortgage lenders and help strengthen their financial profile. The Project will also help broaden and deepen Colombia’s capital markets by: (a) promoting new investment products, (b) increasing institutional investor participation in the capital markets; and (c) introducing technical know-how in the area of asset securitization.
Environmental Category and Issues
This is an environmental review category C project. No further review is required.
The is from the Public Information Center.
| Date SPI sent to PIC | May 8, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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