Loan CS MEXCO II (IFC-40457)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Mexico
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
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 16, 2018
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
Credit Suisse Opportunity Trust II
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • No Restrictions
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank for a specific purpose. A "ring fence" is another name for the specific purpose. Financial intermediaries include insurance, pension and equity funds. A financial intermediary lends these funds to their clients in the form of loans, bonds, guarantees and equity shares.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 101.00 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)
$ 101.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Campaign Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 23, 2018

Disclosed by Bank Oct 22, 2018

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Project Description

According to IFC website, this project entails a senior term loan of up to MXN 1,912 million (approximately US$101 million) to be extended to the irrevocable trust agreement number F/179122, which is publicly traded on the Mexican stock market under the symbol CS2CK. The Trust is a debt and equity investment fund managed by Banco Credit Suisse (Mexico), S.A. This project aims to promote greater market integration via demonstration and replication channels.

 

People Affected By This Project

The most significant, expected project-level outcome is an increase in access to financial services for underserved mid-cap companies in Mexico. Beyond the Project, IFC anticipates that the investment will promote greater market integration via demonstration and replication channels.

Investment Description
  • International Finance Corporation (IFC)
Financial Intermediary
Private Actors
Private Actors Description

Banco Credit Suisse (México), S.A., the Trust manager, has as shareholder Grupo Financiero Credit Suisse (Mexico), S.A. de C.V., of which Credit Suisse AG holds 99% of the corresponding shares, a leading global financial services company.

Contact Information

Project Contact: Manuel Ramos
Managing Director, Banco Credit Suisse (México), S.A. 
Telephone No.: +52 55 52835448
Email Address: manuel.ramos@credit-suisse.com
Office Address: Ciudad de Mexico, Mexico
Website: https://www.credit-suisse.com/mx/

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/