CMI Alimentos II (IDBI-12167-03)

Countries
  • El Salvador
  • Guatemala
  • Honduras
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 17, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Corporacion Multi Inversiones Alimentos
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Oct 7, 2020


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Project Description

The proposed financing consists of a senior loan to six of the main companies in the food division of Corporación Multi Inversiones ("CMI Alimentos") to ensure their short- and medium-term liquidity in the wake of the COVID-19 crisis, which will cover their working capital needs in 2020 and any fixed investments required for 2021. The proposed transaction is for up to US$75 million, of which US$50 million will be financed with funds from IDB Invest and US$25 million from the Chinese Co-financing Fund for Latin America administered by the IDB, with a 5-year term, including a one-year grace period.

CMI Alimentos is one of the main foods and agribusiness economic groups in Central America, with operations in nine countries and almost 30,000 employees. CMI Alimentos' economic activities include the production of poultry, swine, and pork products, the production of wheat flour, corn, pasta, and cookies, and the operation of fast-food restaurants.

Investment Description
  • IDB Invest (IDBI)
Private Actors
Contact Information

 

For inquiries about the Project please contact CMI.

Name:                                      Héctor Téllez

Title:                                         Corporate Treasurer 

Phone Number:                     (+502) 2423-4000

E-mail:                                      htellez@cmi.com 

For questions and comments to IDB Invest please contact:

Name:                                       BID Invest Communication Group                                      

Email:                                        divulgacionpublica@IDBInvest.org

Additionally, affected communities can access te IDB Invest's independent Consultation and Investigation Mechanism (ICIM) as follows:

Phone number:                      +1 (202) 623-3952

Fax number:                           +1 (202) 312-4057

Address:                                  1300 New York Ave. NW Washington, DC. USA. 20577

Email:                                       mecanismo@iadb.org or MICI@iadb.org