Project Kio (IFC-45608)

Countries
  • Mexico
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 16, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
SIXSIGMA NETWORKS MEXICO SA DE CV (KIO)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 10, 2022

Disclosed by Bank Dec 2, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed investment consists of a US$[50] million equity commitment, to be invested in Sixsigma Networks Mexico S.A. de C.V., commercially known as KIO Networks (KIO, or the “company”), as a direct co-investment with I Squared Capital Advisors (US) LLC - ISQ, along with other investors (the “project”). ISQ is a US fund with US$30 billion under management and an existing IFC sponsor.   KIO is the largest carrier-neutral multi-tenant datacenter (MTDC) operator in Mexico and one of the largest in Latin America in terms of installed capacity. Since its incorporation in 2002, the company has grown to operate a total of 40 data centers equivalent to 20.4MW of installed capacity across Mexico (92% of total capacity), Panama (3%), Guatemala (1%), the Dominican Republic (1%), and Spain (3%). The 40 data centers are grouped by facility as follows: MEX1 (4 DC), MEX2 (2 DC), MEX3 (1 DC), MEX4 (3DC), MEX5 (8 DC), QR01 (5 DC), MTY (1 DC), EDGE (11 DC), PA1 (2 DC), ES1 (1 DC), GT1 (1 DC), D01 (1). In summary 35 are in Mexico, 4 in Central America and 1 in Spain.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - I Squared Capital Advisors (US) LLC - ISQ Investor Finance
- - - - SIXSIGMA NETWORKS MEXICO (KIO) Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

I Squared Capital Advisors (US) LLC
Andreas Moon
Investor Relations

andreas.moon@isquaredcapital.com
600 Brickell Avenue, Miami FL, 33131
www.isquaredcapital.com

 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

How it works

How it works