Rassini (IDBI-12522-01)

Countries
  • Mexico
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
C
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
Jul 29, 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
Rassini Automotriz, S.A. de C.V.
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
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)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jul 17, 2020

Disclosed by Bank Jun 29, 2020


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Project Description

Rassini Automotriz, S.A. de C.V. ("Rassini" or "the Company") has asked IDB Invest for financial assistance (the "Project") in establishing an uncommitted revolving credit line (the "line") to finance Rassini's suppliers through acquisition of collection rights. The transaction includes accounts receivable whose payment will be deferred because of the exceptional measures taken by the Company to mitigate the impact of COVID-19 on its suppliers.

Investment Description
  • IDB Invest (IDBI)

The teext in the IDBInvest webpage says explicitly it is a "credit line".

Private Actors
Contact Information

Luis Eduardo Diaz
Treasury Manager
(+52) 55 - 5229 5863

lediaz@rassini.com

For questions about projects, including environmental and social issues associated with an IDB Invest transaction, please contact the client (see Investment Summary) or IDB Invest through e-mailrequestinformation@idbinvest.org. As a last resort, affected communities have access to IDB Invest's Independent Consultation and Investigation Mechanism throughmecanismo@iadb.orgorMICI@iadb.org, or by calling +1(202) 623-3952.