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, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
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.
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
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actor Relationship

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

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.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Accolade Wines Australia Hldg Parent Company Agriculture and Forestry owns Abertis Holdco Client Agriculture and Forestry
Advanced Micro Devices Inc Parent Company Communications owns Advanced Disposal Services Inc Client Communications
Advent International Corp Parent Company Agriculture and Forestry owns Cobham PLC Client Agriculture and Forestry
Akira Holding Foundation Parent Company Agriculture and Forestry owns Air Lease Corp Client Agriculture and Forestry
Al Fakher For Tobacco Trading Parent Company Agriculture and Forestry owns Akron Client Agriculture and Forestry
Altria Group Inc Parent Company Agriculture and Forestry owns Allreal Holding AG Client Agriculture and Forestry
Altria Grp Inc Parent Company Agriculture and Forestry owns Tecta America Corp Client Agriculture and Forestry
Alvean Sugar SL Parent Company Agriculture and Forestry owns Altria Grp Inc Client Agriculture and Forestry
American Securities LLC Parent Company Agriculture and Forestry owns American Realty Client Agriculture and Forestry
American Securities LLC Parent Company Agriculture and Forestry owns Henry Co LLC Client Agriculture and Forestry
Ameropa AG Parent Company Agriculture and Forestry owns Unifrax I LLC Client Agriculture and Forestry
Analog Devices Inc Parent Company Communications owns Western Midstream Operating LP Client Communications
Archer Daniels Midland Co Parent Company Agriculture and Forestry owns Arch Coal Inc Client Agriculture and Forestry
Arterra Wines Canada Inc Parent Company Agriculture and Forestry owns Ares Management LLC Client Agriculture and Forestry
Aryzta AG Parent Company Agriculture and Forestry owns Feintool International Hldg AG Client Agriculture and Forestry
B&G Foods Inc Parent Company Agriculture and Forestry owns Intl Game Tech PLC Client Agriculture and Forestry
Bacardi & Co Ltd Parent Company Agriculture and Forestry owns B&G Foods Inc Client Agriculture and Forestry
BC Partners LLP Parent Company Agriculture and Forestry owns United Group BV Client Agriculture and Forestry
Blackstone Group Inc Parent Company Agriculture and Forestry owns BlackRock Inc Client Agriculture and Forestry
Blackstone Group LP Parent Company Agriculture and Forestry owns Performance Food Group Co Client Agriculture and Forestry
Blackstone Group LP Parent Company Agriculture and Forestry owns Vivint Solar Inc Client Agriculture and Forestry
Bunge Ltd Parent Company Agriculture and Forestry owns Buckeye Partners LP Client Agriculture and Forestry
Campbell Soup Co Parent Company Agriculture and Forestry owns Calpine Corp Client Agriculture and Forestry
Cargill Inc Parent Company Agriculture and Forestry owns Canbriam Energy Inc Client Agriculture and Forestry
Central Garden & Pet Co Parent Company Agriculture and Forestry owns Central China Real Estate Ltd Client Agriculture and Forestry
Charlesbank Capital Partners Parent Company Agriculture and Forestry owns Charah Llc Client Agriculture and Forestry
Chocoladefabriken Lindt & Spruengli AG Parent Company Agriculture and Forestry owns China Railway XunJie Co. Ltd Client Agriculture and Forestry
Cinven Group Ltd Parent Company Agriculture and Forestry owns Cie de Saint-Gobain SA Client Agriculture and Forestry
Clayton Dubilier & Rice Hldg Parent Company Agriculture and Forestry owns NCI Building Systems Inc Client Agriculture and Forestry
Coca Cola HBC Finance BV (Coca Cola HBC SA) Parent Company Agriculture and Forestry owns Cliffs Natural Resources Inc Client Agriculture and Forestry
Coca-Cola Co Parent Company Agriculture and Forestry owns Coca Cola HBC Finance BV (Coca Cola HBC SA) Client Agriculture and Forestry
Coca-Cola European Partners PLC Parent Company Agriculture and Forestry owns Coca-Cola Co Client Agriculture and Forestry
Coca-Cola Eurpn Partnrs PLC Parent Company Agriculture and Forestry owns Cnx Resources Corp Client Agriculture and Forestry
Coca-Cola HBC AG Parent Company Agriculture and Forestry owns Coca-Cola Eurpn Partnrs PLC Client Agriculture and Forestry
Constellation Brands Inc Parent Company Agriculture and Forestry owns Natgasoline LLC Client Agriculture and Forestry
CPH Chemie + Papier Holding AG Parent Company Agriculture and Forestry owns Costamare Inc Client Agriculture and Forestry
Darbonne SA Parent Company Agriculture and Forestry owns Dana Inc Client Agriculture and Forestry
Diageo Capital BV Parent Company Agriculture and Forestry owns Deutsche Lufthansa AG Client Agriculture and Forestry
Diageo Capital PLC Parent Company Agriculture and Forestry owns Dexin China Holdings Co Ltd Client Agriculture and Forestry
Diageo Finance Plc(Diageo Plc) Parent Company Agriculture and Forestry owns Diageo Capital PLC Client Agriculture and Forestry
Diageo PLC Parent Company Agriculture and Forestry owns Clearstream Banking SA Client Agriculture and Forestry
Dr Pepper Snapple Group Inc Parent Company Agriculture and Forestry owns Dowdupont Inc Client Agriculture and Forestry
Firmenich International SA Parent Company Agriculture and Forestry owns Fibra Uno Administracion SA de CV Client Agriculture and Forestry
General Mills Inc Parent Company Agriculture and Forestry owns Tocumen Gas-Fired Power Client Agriculture and Forestry
Ghana Cocoa Board(Ghana) Parent Company Agriculture and Forestry owns GGP Inc Client Agriculture and Forestry
Grupo Bio Pappel SA de CV Parent Company Agriculture and Forestry owns Green Datacenter AG Client Agriculture and Forestry
Heineken NV Parent Company Agriculture and Forestry owns Heathrow Finance plc Client Agriculture and Forestry
HIG Capital LLC Parent Company Agriculture and Forestry owns Hewlett Packard Enterprise Co Client Agriculture and Forestry
HIG Capital Partners LP Parent Company Agriculture and Forestry owns Caraustar Industries Inc Client Agriculture and Forestry
Hokuetsu Corp Parent Company Agriculture and Forestry owns Hilti AG Client Agriculture and Forestry
Imperial Brands PLC Parent Company Agriculture and Forestry owns Howmet Aerospace Inc Client Agriculture and Forestry
Jacobs Foundation Parent Company Agriculture and Forestry owns Invenergy Thermal Operating I Client Agriculture and Forestry
Juice Plus Co LLC (The) Parent Company Agriculture and Forestry owns JSW Steel Ltd Client Agriculture and Forestry
KKR & Co LP Parent Company Agriculture and Forestry owns Kinross Gold Corp Client Agriculture and Forestry
Koninklijke Wessanen NV Parent Company Agriculture and Forestry owns Koninklijke Dsm Nv Client Agriculture and Forestry
Kraft Heinz Foods Company Parent Company Agriculture and Forestry owns Korean Air Lines Co Ltd Client Agriculture and Forestry
L'Arche Green NV Parent Company Agriculture and Forestry owns C&D Technologies Inc Client Agriculture and Forestry
Louis Dreyfus Co Bv Parent Company Agriculture and Forestry owns Logan Property Holdings Co Ltd Client Agriculture and Forestry
McCormick & Co Inc Parent Company Agriculture and Forestry owns Mayne Pharma Group Ltd Client Agriculture and Forestry
Mercer International Inc Parent Company Agriculture and Forestry owns Medco Strait Services Pte Ltd Client Agriculture and Forestry
Ministry of Finance Singapore Parent Company Agriculture and Forestry owns Micron Technology Inc Client Agriculture and Forestry
Mondelez International Holdings Netherlands BV Parent Company Agriculture and Forestry owns Modern Land (China) Co Ltd Client Agriculture and Forestry
Mondelez International Inc Parent Company Agriculture and Forestry owns Mohegan Tribal Gaming Auth Client Agriculture and Forestry
Nestle Holdings Inc Parent Company Agriculture and Forestry owns Navistar International Corp Client Agriculture and Forestry
Nestle SA Parent Company Agriculture and Forestry owns Neinor Holdings SL Client Agriculture and Forestry
Neumann Kaffee Gruppe Parent Company Agriculture and Forestry owns Froneri Ltd Client Agriculture and Forestry
NOMAD FOODS BONDCO PLC Parent Company Agriculture and Forestry owns NiSource Inc Client Agriculture and Forestry
Nomad Foods Ltd Parent Company Agriculture and Forestry owns Gulf Power Co Client Agriculture and Forestry
Nutrition & Biosciences Inc Parent Company Agriculture and Forestry owns NextEra Energy US Partners Client Agriculture and Forestry
Olam International Ltd Parent Company Agriculture and Forestry owns Ohio Power Co Client Agriculture and Forestry
Ontario Teachers' Pension Plan Parent Company Agriculture and Forestry owns ONEOK Partners LP Client Agriculture and Forestry
Ontario Teachers' Psn Plan Brd Parent Company Agriculture and Forestry owns BrightSpring Health Services Client Agriculture and Forestry
Performance Food Group Co Parent Company Agriculture and Forestry owns PBF Logistics LP Client Agriculture and Forestry
Petco Animal Supplies Inc Parent Company Agriculture and Forestry owns Perrigo Co PLC Client Agriculture and Forestry
PH Glatfelter Co Parent Company Agriculture and Forestry owns Pacific Gas & Electric Co Client Agriculture and Forestry
Philip Morris International Inc Parent Company Agriculture and Forestry owns PG&E Corp Client Agriculture and Forestry
Philip Morris Intl Inc Parent Company Agriculture and Forestry owns PHI Inc Client Agriculture and Forestry
Picard Bondco SA Parent Company Agriculture and Forestry owns Phillips 66 Co(Phillips Petroleum Co) Client Agriculture and Forestry
Pinnacle Foods Finance LLC Parent Company Agriculture and Forestry owns PIA Client Agriculture and Forestry
Pinnacle Operating Corp Parent Company Agriculture and Forestry owns Pinnacle Foods Finance LLC Client Agriculture and Forestry
Post Holdings Inc Parent Company Agriculture and Forestry owns 8th Ave Food & Provisions Inc Client Agriculture and Forestry
Post Holdings Inc Parent Company Agriculture and Forestry owns PrimeSource Building Products Client Agriculture and Forestry
Premier Foods PLC Parent Company Agriculture and Forestry owns Precision Drilling Corp Client Agriculture and Forestry
Rank Group Ltd Parent Company Agriculture and Forestry owns PT Archi Indonesia Client Agriculture and Forestry
Refresco Holding BV Parent Company Agriculture and Forestry owns Realty Income Corp Client Agriculture and Forestry
Rgm Intl Parent Company Agriculture and Forestry owns Burger King Worldwide Inc Client Agriculture and Forestry
Ripplewood Holdings LLC Parent Company Agriculture and Forestry owns Rio Tinto PLC Client Agriculture and Forestry
Saudi Arabia Parent Company Agriculture and Forestry owns Sable Permian Resources LLC Client Agriculture and Forestry
Sequana SA Parent Company Agriculture and Forestry owns Texas Competitive Electric Client Agriculture and Forestry
Sino-Environment Tech Grp Ltd Parent Company Agriculture and Forestry owns Simon Property Group Inc Client Agriculture and Forestry
Sucafina SA Parent Company Agriculture and Forestry owns Kloeckner Pentaplast GmbH Client Agriculture and Forestry
Sunshine Mid Bv Parent Company Agriculture and Forestry owns SunCoke Energy Partners LP Client Agriculture and Forestry
Tekni-Plex Inc Parent Company Agriculture and Forestry owns Teekay Offshore Partners LP Client Agriculture and Forestry
The Carlyle Group LP Parent Company Agriculture and Forestry owns United Road Services Inc Client Agriculture and Forestry
Tiryaki Agro Gida Sanayi Parent Company Agriculture and Forestry owns Barracuda Networks Inc Client Agriculture and Forestry
TreeHouse Foods Inc Parent Company Agriculture and Forestry owns Traxys Europe SA Client Agriculture and Forestry
United Natural Foods Inc Parent Company Agriculture and Forestry owns United Airlines Inc Client Agriculture and Forestry
US LBM Holdings LLC SPV Parent Company Agriculture and Forestry owns USD Partners LP Client Agriculture and Forestry
Utz Brands Inc Parent Company Agriculture and Forestry owns Univision Communications Client Agriculture and Forestry
Vestar Capital Partners Inc Parent Company Agriculture and Forestry owns Verisk Analytics Inc Client Agriculture and Forestry

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/