The transaction consists of an uncommitted revolving reverse factoring facility (the "Transaction") to be provided by IDB Invest to Frisa Industrias S.A. de C.V. and its subsidiaries incorporated in Mexico ("Frisa" or "the Company"). IDB Invest may, at its sole discretion: purchase and discount supplier credit rights payable by Frisa, previously confirmed by the latter, through an eligible electronic platform.
Frisa is a Mexican company engaged in the design, forging, manufacturing, machining, and marketing of rolled rings for industrial uses, made from carbon, alloy, stainless, titanium, and superalloy steels for the following industries: aerospace, construction and mining, industrial machinery, oil and gas, wind energy, and power generation.
Through the Transaction, IDB Invest seeks to facilitate financing at competitive prices to Frisa's Micro, Small and Medium-Sized Enterprises ("MSMEs") suppliers in Mexico, through the discount or monetization of their credit rights derived from the sale of goods and/or services to Frisa. The average maturity of the credit rights under the Transaction is expected to be 180 days. Reverse factoring solutions aim to facilitate access to affordable financing for suppliers, mostly MSMEs.
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For questions and comments to IDB Invest please contact:
Name: IDB Invest Communication Group
In addition, affected communities can access 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
Name: Ana Elsa Casillas Montaño
Title: Financial Planning, Treasury, and Risk Management
Phone number: +52 (81) 8218 5561