Original disclosure @ IFC website
Updated in EWS Mar 17, 2023
Disclosed by Bank Dec 22, 2022
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The proposed IFC investment consists of creating a Distressed Asset Recovery Program (DARP) platform in Mexico to acquire and resolve secured and unsecured retail non-performing loan portfolios and Real Estate Owned by financial institutions. IFC will be partnering with Zéndere Group, a relevant distressed asset (DA) player in Mexico, which will service the NPL portfolios and also invest alongside IFC and other co-investor(s) in the Project.
IFC investments entails a Senior Profit Participating Loan of up to US$30 million (equivalent in MXN) to a newly created special purpose vehicle to be established by Zéndere and other co-investor(s).
The project has been categorized as FI-3 by the IFC.
As stated by the IFC, Zéndere is a management-owned company with more than 20 years of experience of DA investing and servicing focused on secured/unsecured retail NPLs and REOs in Mexico.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Financial Intermediary - Zéndere Holding I, S.A.P.I. de C.V.:
Eduardo Flores Alonso - CEO
Phone: + 52 (55) 5980 3910
Address: Jaime Balmes 11, Torre A Piso 7 Los Morales Polanco, C.P. 11510, CDMX
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