Megacable (IDBI-13229-01)

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
May 25, 2021
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
Megacale Holdings S.A.B. de C.V. and its subsidiaries
The holder of the loan, grant, or other investment.
Sectors
  • Communications
  • Finance
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)
$ 20.00 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)
$ 20.00 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 Mar 25, 2021

Disclosed by Bank Mar 19, 2021


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Project Description

The transaction consists of a revolving, uncommitted credit facility to be provided by IDB Invest to Megacable Holdings S.A.B. de C.V. and its subsidiaries ("Megacable"), for an amount of US$20 million (the "Transaction"). IDB Invest will purchase from and discount to the supplier's credit rights payable by Megacable, previously confirmed by the latter, through an eligible electronic platform.

Megacable is a Mexican cable operator and provider of internet and phone service. Its supply pool in Mexico is comprised of over 5,000 suppliers, mostly Micro, Small, and Medium-sized Enterprises (MSMEs).

Through this Transaction, IDB Invest seeks to facilitate access to financing to Megacable's MSMEs suppliers in Mexico, through the discount or monetization of credit rights arising from the sale of goods and/or services of MSMEs suppliers to Megacable.

Investment Description
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Megacable Holdings S.A.B. de C.V. Client Communications

Contact Information

For questions about the Project contact:

Name:                                       Alan Esau Gallegos Lopez                                           

Title:                                          Investors Relations Manager              

Phone number:                       +52 - 3338154144             

E-mail:                                       esau.gallegos@megacable.com.mx

For questions and comments to IDB Invest, please contact:

Name:                                      IDB Invest Communication Group

Email:                                       requestinformation@idbinvest.org

In addition, as a last resource, affected communities can access IDB Invest’s Independent Consultation and Investigation Research (ICIM) in the following way:

Phone number:                      +1 (202) 623-3952

Fax number:                            +1 (202) 312-4057

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

E-mail:                                      mecanismo@iadb.org o MICI@iadb.org