The proposed project consists of a senior-secured loan of up to MXN 1,000 million (equivalent to approximately US$50 million) to a Special Purpose Vehicle (The Trust). The Trust will acquire and hold assets originated by Bienes Programados S.A. de C.V. (HIR Casa or the Company) which meet certain eligibility criteria. IFC will act as the primary beneficiary of the Trust. The assets to be held in the Trust will be mortgage loans exclusively for residential purpose, and it is expected that a minimum of 50% of the mortgages be from women clients (the Project).
HIR Casa is a non-bank financial institution with more than 25 years of experience in the Mexican mortgage market providing mortgage loans relying on the “self-financing” model. HIR Casa is a Mexican company founded in 1995, it belongs to Grupo HIR, which has 56 years of experience. HIR Casa’s main shareholder is the Hirschhorn family with around 95% of shares in the company.
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