Summary of Proposed Investment
Project Number
8231
Company Name
TCW GEM II, Limited
Date SPI Disclosed
May 23, 1997
Country
World Region
Industry
other
Status
Completed
Sector
Foreign Portfolio Debt Fund
Department
TMT, Venture Capital & Funds
Environmental Category
C - No Impact
Previous Events
Approved : Jun 30, 1997
Signed : Sep 25, 1997
Invested : Sep 25, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Global-Emerging Markets Fixed Income Fund |
| Region | Global |
| Sector |
Projected Board DateJune 23, 1997
Company NameEmerging Markets Fixed Income Fund
Technical Partner and/or Major Shareholders
Trust Company of the West, a leading US asset management company.
Project Cost Including proposed IFC investment
IFC would make a quasi-equity investment of the lower of either US$10.0 million in or 25.0 percent of the junior class of notes issued by the fund. IFC would hold approximately 4.0 percent of the fund at its targeted size of US$250.0 million.
Location of project and Description of site
The fund would be incorporated in an “offshore” location.
Description of Company and Purpose of Project
The fund would invest in a globally diversified portfolio of hard-currency denominated emerging market corporate debt issues. The fund would provide international institutional investors with access to private debt securities from emerging markets issuers. It would, therefore, be another vehicle designed to support the World Bank Group strategy of promoting the development of efficient debt markets in emerging markets.
Environmental Category and Issues
This is a category “C” project under IFC’s environmental review procedures and, therefore, no further environmental review is required.
| Date SPI sent to PIC | May 23, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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