Summary of Proposed Investment
Project Number
8175
Company Name
COMPANHIA BRASILEIRA DE SECURITIZACAO
Date SPI Disclosed
Mar 27, 1998
Country
Brazil
Industry
Financial Markets
Status
Completed
Sector
Secondary Mortgage Institutions
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Sep 2, 1998
Signed : Dec 8, 2004
Invested : Mar 31, 2005
Project Description
Summary Of Project Information (SPI)
| Project Name | Brazil - Companhia Brasileira de Securitizacao |
| Region | Latin America and the Caribbean |
| Sector |
Projected Board DateApril 27, 1998
Company NameCompanhia Brasileira de Securitizacao (CIBRASEC)
Technical Partner and/or Major Shareholders
Cibrasec shareholders are 34 Brazilian financial institutions, many of which are mortgage orginators. IFC is helping the Company identify a Technical Service Provider.
Project Cost Including proposed IFC investment
US$53-70 million, including proposed IFC equity investment of up to US$5 million.
Location of project and Description of site
The Company is located in Sao Paulo and will undertake securitization throughout Brazil.
Description of Company and Purpose of Project
Cibrasec is a pioneering effort by a local private sector group to develop Brazil’s secondary markets for mortgages and mortgage-backed securities. It will purchase and pool standardized residential mortgages, transferring them to special purpose vehicles that will issue securities backed by the mortgage pools in the local capital markets. IFC has a strong institution-building role.
Environmental Category and Issues
This is a Category C project according to IFC’s environmental review procedures. No further environmental review is required.
| Date SPI sent to PIC | March 27, 1998 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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