La Comer (IDBI-13180-01)

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
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
Comercial City Fresko, S. de R.L. de C.V.
The holder of the loan, grant, or other investment.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 36.18 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported Up to MX$800 million
Converted using 2020-07-27 exchange rate.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jul 27, 2020

Disclosed by Bank Jul 17, 2020


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Project Description

La Comer S.A.B. de C.V. ("La Comer" or the "Company"), through its subsidiary Comercial City Fresko, S. de R.L. de C.V. ("CCF"), has requested IDB Invest's financial assistance to provide an uncommitted revolving credit facility (the "Facility") to finance La Comer's suppliers through the acquisition of collection rights (the "Project" or the "Operation"). The Operation involves deferred payment for accounts receivable, due to the exceptional measures adopted by the Company to mitigate the impact of COVID-19 on its suppliers.

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

Leonardo Aquiles Figueroa H.

Deputy Director of Trasury

(+52) 55 -5270-9323

lfigueroa@lacomer.com.mx

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IDB Invest)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).