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The transaction consists of a revolving, uncommitted guarantee (the "Facility") in favor of Banco Santander Argentina S.A. ("Santander Argentina" or the "Bank"), which provides coverage for corporate confirming portfolios corresponding to eligible anchor companies based in the country and which are clients of Santander Argentina (the "Anchor Companies"), with the aim of generating capital savings and applying them to the expansion of financing to suppliers in the Small and Medium-Sized Enterprises ("SMEs") segment.
The Facility will be operated on an unfunded basis, under which IDB Invest may, at its sole discretion, issue guarantees in favor of Santander Argentina to cover the factoring operations of certain Anchor Companies (in the form of unfunded participations connected to SBLCs). The amount of the transaction will be up to US$50 million or its equivalent in local currency. The Facility will enable suppliers of Santander Argentina's Anchor Company clients to expand their capacity to receive financing on competitive terms, facilitating the possibility of shortening the cash conversion cycle by advancing the payment of their accounts receivable.
The transaction consists of a revolving, uncommitted guarantee (the "Facility") in favor of Banco Santander Argentina S.A. (“Santander Argentina” or the “Bank”), which provides coverage for corporate confirming portfolios corresponding to eligible anchor companies based in the country and which are clients of Santander Argentina (the “Anchor Companies”), with the aim of generating capital savings and applying them to the expansion of financing to suppliers in the Small and Medium-Sized Enterprises ("SMEs") segment.
The Facility will be operated on an unfunded basis, under which IDB Invest may, at its sole discretion, issue guarantees in favor of Santander Argentina to cover the factoring operations of certain Anchor Companies (in the form of unfunded participations connected to SBLCs). The amount of the transaction will be up to US$50 million or its equivalent in local currency. The Facility will enable suppliers of Santander Argentina's Anchor Company clients to expand their capacity to receive financing on competitive terms, facilitating the possibility of shortening the cash conversion cycle by advancing the payment of their accounts receivable.
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | Banco Santander Argentina S.A. | Client | - |
EMAIL: [email protected]
PHONE: +1(202)-566-4566
ADDRESS: 1350 New York Ave NW, Washington, DC 20005
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).
