Summary of Proposed Investment
Project Number
8956
Company Name
Suleasing Internacional S.A.
Date SPI Disclosed
Apr 10, 1998
Country
Panama
Industry
Financial Markets
Status
Completed
Sector
Leasing Services
Department
Regional Industry FIG LAC & EUR
Environmental Category
FI
Previous Events
Approved : Jul 17, 1998
Signed : Sep 17, 1999
Invested : Dec 15, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | Colombia: Suleasing Holding, Inc. |
| Region | Latin America and Caribbean |
| Sector |
Projected Board DateMay 10, 1998
Company NameSuleasing Group
Technical Partner and/or Major Shareholders
Leasing Suramericana Compania de Financiamiento Comercial Suleasing S.A. (50%); Mitsubishi International Corporation and Mitsubishi Corporation (25%); IFC (25%)
Project Cost Including Proposed IFC Investment
The estimated project cost is US$170 million. IFC would provide an equity investment of up to US$10 million, an A loan for its own account of up to US$15 million and a syndicated B loan for the account of participant banks for up to US$35 million. The loan funds will support infrastructure leasing activities.
Location of Project and Description of Site
Colombia and other countries in Latin America
Description of Company and Purpose of Project
The project consists of establishing two companies, possibly through a controlling holding company. One of the companies, Surenting, will offer operating leasing for truck and car fleets and industrial equipment in Colombia and will be the first Colombian institution dedicated exclusively to operating leasing. The second company will offer finance leases exclusively for infrastructure-related projects, focusing on power, telecommunications and other sectors, first in Colombia and then throughout Latin America. The project will have a significant development impact by mobilizing private sector financing for infrastructure through leasing and by establishing a specialized institution for infrastructure leasing. In addition, operating leasing will be an effective tool for infrastructure activities, such as for earth-moving equipment in road projects.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project according to IFC''s environmental review procedure. The project companies will be required to implement an environmental management system to ensure that equipment or assets financed by them comply with the environmental, health and safety requirements of the host country as well as applicable World Bank policies and guidelines. With respect to the Credit Line, IFC’s Environment Division must review and clear all environmental category A sub-projects.
| Date SPI sent to InfoShop | April 10, 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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