DCM CRT Santander (IFC-39976)

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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
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
Nov 26, 2018
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
RSF Santander Mexico
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • Small & Medium Enterprises
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 24,000.00 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.
Project Cost (USD)
$ 24,000.00 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.
Campaign Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Dec 4, 2021

Disclosed by Bank Nov 5, 2018

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.

According to the bank, the proposed project (the Project) consists of a Synthetic Risk Transfer (“SRT”) transaction in which IFC will take up to MXN 2.4 billion of unfunded mezzanine risk exposure towards a MXN 34.3 billion portfolio of SME and mid-sized corporate loans originated by Santander Mexico. The capital relief Santander Mexico obtains from the SRT will enable it to significantly increase its SME lending.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The project will enable Santander Mexico to increase the amount of its SME and mid-market lending. The project will also contribute to creating a market for SRTs in Latin America by promoting integration of the region into the global SRT market through eventual replication of this transaction by others.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a 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
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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.

An extended list of private actors is available in a separate file. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
8minutenergy Renewables LLC Parent Company Energy owns CD Clean Energy & Client Energy
Abac Capital SL Parent Company Agriculture and Forestry owns Agroponiente SA Client Agriculture and Forestry
ABN AMRO Group NV Parent Company Energy owns Maas Capital Renewables Solar Client Energy
Acciona SA Parent Company Construction owns Acciona Infrastructure Client Construction
ACS Parent Company Energy owns Acs Solar Pv Plants Client Energy
ACS Parent Company Construction owns Dragados SA Client Construction
ACS Parent Company Construction owns Hochtief AG Client Construction
Admiralty Mgmt Sl Parent Company Energy owns Q-Energy Sandina Sl Client Energy
AES Corp Parent Company Energy owns AES Southland LLC Client Energy
Agricultores de la Vega de Parent Company Energy owns Ute Sfs Instalacion 3 Client Energy
Agrolimen SA Parent Company Agriculture and Forestry owns The GB Foods SA Client Agriculture and Forestry
Amadeus IT Holding SA Parent Company Communications owns AMADEUS IT GROUP SA Client Communications
Apollo 12 Participacoes SA Parent Company Energy owns BJL Spe Transmissora De Client Energy
Apollon Holding AS Parent Company Construction owns Verallia France SA Client Construction
Ardian SAS Parent Company Communications owns eDreams Odigeo SA Client Communications
Ardo Coordination Center NV Parent Company Agriculture and Forestry owns Congelados De Navarra SA Client Agriculture and Forestry
Ares Management Corp Parent Company Energy owns Project Phoenix Client Energy
Atlantica Yield PLC Parent Company Energy owns Estrellada Sa Client Energy
Atlantica Yield PLC Parent Company Energy owns Helios Hyperion 1 Ciudad Real Client Energy
Avista Capital Holdings LP Parent Company Education and Health owns Osmotica Pharmaceutical Corp Client Education and Health
Bacardi & Co Ltd Parent Company Agriculture and Forestry owns Bacardi Ltd Client Agriculture and Forestry
Berkshire Hathaway Inc Parent Company Energy owns Berkshire Hathaway Energy Co Client Energy
Berkshire Hathaway Inc Parent Company Energy owns CE Electric UK Funding Company Client Energy
Berkshire Hathaway Inc Parent Company Energy owns Midamerican Energy Co Client Energy
Berkshire Hathaway Inc Parent Company Energy owns Nevada Power Co Client Energy
Berkshire Hathaway Inc Parent Company Energy owns Sierra Pacific Power Co Client Energy
Bja Croonen Bv Parent Company Construction owns Kinetico Inc Client Construction
Blackstone Group Inc Parent Company Construction owns Einstein Office Client Construction
Blackstone Group Inc Parent Company Construction owns Loonie Office & Urban Client Construction
Bridgepoint Advisers Group Ltd Parent Company Agriculture and Forestry owns Pret A Manger (Europe) Ltd Client Agriculture and Forestry
BSA International SA Parent Company Agriculture and Forestry owns Groupe Lactalis SA Client Agriculture and Forestry
BTG Pactual Holding SA Parent Company Energy owns Tropicalia Transmissora De Client Energy
Bunge Ltd Parent Company Agriculture and Forestry owns Bunge Finance Europe Client Agriculture and Forestry
Caleta de Oro Holding SA Parent Company Agriculture and Forestry owns Pesquera Exalmar SAA Client Agriculture and Forestry
Cargill Inc Parent Company Agriculture and Forestry owns SJC Bioenergia SA Client Agriculture and Forestry
Casa dos Ventos Energias Parent Company Energy owns Tiangua Wind Farm Power Plant Client Energy
CEA Centrais Eolicas Assurua Parent Company Energy owns Xique Xique 2 Wind Farm Power Client Energy
Centerbridge Partners LP Parent Company Construction owns Senvion GmbH Client Construction
Centrica PLC Parent Company Energy owns Lincs Offshore Wind Farm Client Energy
Charoen Pokphand Foods PCL Parent Company Agriculture and Forestry owns CP Merchandising Co Ltd Client Agriculture and Forestry
China National Chemical Corp Parent Company Construction owns CNCE Group (Hong Kong) Co Ltd Client Construction
CK Hutchison Holdings Ltd Parent Company Energy owns Iberwind II Producao - Socie Client Energy
CNH Industrial NV Parent Company Construction owns CNH Global NV Client Construction
COFCO Corp Parent Company Agriculture and Forestry owns COFCO (Hong Kong) Ltd Client Agriculture and Forestry
Corp Empresarial Pascual SL Parent Company Agriculture and Forestry owns Calidad Pascual SA Client Agriculture and Forestry
Cosan Ltd Parent Company Agriculture and Forestry owns Usina da Barra SA(Grupo Cosan) Client Agriculture and Forestry
Darbonne SA Parent Company Agriculture and Forestry owns Planasa Client Agriculture and Forestry
First Solar Inc Parent Company Communications owns Cal Flats Solar InvestCo LLC Client Communications
Gardner Denver Holdings Inc Parent Company Construction owns Gardner Denver Inc Client Construction
Garfield Weston Foundation Parent Company Agriculture and Forestry owns Associated British Foods PLC Client Agriculture and Forestry
Grifols SA Parent Company Education and Health owns Grifols Worldwide Op Ltd Client Education and Health
Grupo Argos SA Parent Company Construction owns Argos N America Corp Client Construction
Grupo Bio Pappel SA de CV Parent Company Agriculture and Forestry owns Bio Pappel SAB de CV Client Agriculture and Forestry
Grupo Corporativo Landon SL Parent Company Education and Health owns Almirall SA Client Education and Health
Grupo Siro Corporativo SL Parent Company Agriculture and Forestry owns Cerealto Siro Foods SL Client Agriculture and Forestry
HarbourVest Partners LLC Parent Company Agriculture and Forestry owns Angulas Aguinaga SA Client Agriculture and Forestry
HB Fairview Holdings LLC Parent Company Agriculture and Forestry owns Swisher International Inc Client Agriculture and Forestry
ICG PLC Parent Company Construction owns Grupo Garnica Plywood SA Client Construction
Imperial Brands PLC Parent Company Agriculture and Forestry owns Imperial Brands Finance PLC Client Agriculture and Forestry
Infrared Capital Partners Ltd Parent Company Construction owns HS1 (High-Speed Rail) Asts Client Construction
Ingersoll Rand Inc Parent Company Construction owns Gardner Denver Inc Client Construction
Inmobiliaria Carso SA de CV Parent Company Construction owns Azincourt Investment Client Construction
Inmobiliaria Carso SA de CV Parent Company Construction owns FCC Client Construction
Inver Angelini Parent Company Construction owns Sonae Arauco SA Client Construction
Inversora Carso SA de CV Parent Company Construction owns Cementos Portland Valderrivas Client Construction
Investindustrial SA Parent Company Agriculture and Forestry owns Natra SA Client Agriculture and Forestry
KKR & Co Inc Parent Company Education and Health owns Air Medical Group Holdings Inc Client Education and Health
KKR & Co Inc Parent Company Communications owns Calisen PLC Client Communications
KKR & Co Inc Parent Company Education and Health owns Envision Healthcare Corp Client Education and Health
L'Arche Green NV Parent Company Agriculture and Forestry owns Heineken International BV Client Agriculture and Forestry
Laboratorios Sanfer SA de CV Parent Company Education and Health owns Invekra SAPI de CV Client Education and Health
Lincoln Electric Holdings Inc Parent Company Communications owns Vizient LLC Client Communications
Lloyds Banking Group PLC Parent Company Construction owns Avant Homes - UK Shared Equity Client Construction
Maple Holdings BV Parent Company Agriculture and Forestry owns Keurig Dr Pepper Inc Client Agriculture and Forestry
Minerva Capital SL Parent Company Communications owns PREMO Corp SL Client Communications
Ministry of Finance Singapore Parent Company Agriculture and Forestry owns Olam International Ltd Client Agriculture and Forestry
Nippon Sheet Glass Co Ltd Parent Company Construction owns NSG UK Enterprises Ltd Client Construction
Ontario Teachers' Psn Plan Brd Parent Company Communications owns MapleCo Client Communications
Participacion e Impulso SL Parent Company Construction owns Nuevos Productos Ceramicos SA Client Construction
Peoples Republic of China Parent Company Construction owns Aeronaval de Construcciones Client Construction
Pescanova SA Parent Company Agriculture and Forestry owns Nueva Pescanova SL Client Agriculture and Forestry
Pfingsten Partners LLC Parent Company Construction owns Simonds International LLC Client Construction
Portobello Capital Advisors SL Parent Company Agriculture and Forestry owns Grupo Iberica de Congelados SA Client Agriculture and Forestry
Portobello Capital Advisors SL Parent Company Agriculture and Forestry owns Ramon Sabater SAU Client Agriculture and Forestry
Portobello Capital SL Parent Company Agriculture and Forestry owns Angulas Aguinaga SA Client Agriculture and Forestry
Qualium Investissement SAS Parent Company Agriculture and Forestry owns Biscuit International SAS Client Agriculture and Forestry
Rhone Group LLC Parent Company Construction owns Zodiac Pool Solutions Sasu Client Construction
Rolls-Royce Holdings PLC Parent Company Construction owns Rolls-Royce PLC Client Construction
RWE AG Parent Company Construction owns Triton Knoll Offshore Wind Client Construction
Salini Costruttori SpA Parent Company Construction owns Salini Impregilo SpA Client Construction
Tensile Capital Management LLC Parent Company Construction owns Keraben Grupo SA Client Construction
The Carlyle Group LP Parent Company Agriculture and Forestry owns Grupo Empresarial Palacios Client Agriculture and Forestry
Total SA Parent Company Communications owns SunPower Corp Client Communications
Vivimed Labs Ltd Parent Company Education and Health owns Uquifa Client Education and Health
Vivimed Labs Ltd Parent Company Education and Health owns Vivimed Labs Spain SL Client Education and Health
Volkswagen AG Parent Company Construction owns Traton SE Client Construction
Votorantim SA Parent Company Construction owns Votorantim Cimentos SA Client Construction
Walton SA Parent Company Education and Health owns Almirall SA Client Education and Health
White Group Holdings LLC Parent Company Construction owns Harvey Industries Inc Client Construction
Yantai Chang Yu Group Co Ltd Parent Company Agriculture and Forestry owns Hacienda y Vinedos Marques Client Agriculture and Forestry

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.

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/

How it works

How it works