AVLA SEGUROS DE CRÉDITO Y GARANTÍA S.A. ("AVLA")
FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
USD $ 60,000,000
Project scope and objective
The proposed project includes a financing mechanism that will consist of a senior, secured, revolving warehouse facility of up to US$50 million, whose proceeds will be used to purchase and accumulate eligible endorsable mortgage loans or other similar instruments granted to individuals, with a particular focus on diversity and inclusion, for future total or partial asset-backed securitizations in the Chilean capital markets. The transaction will support and improve certain diversity and inclusion segments access to financing in Chile, narrowing the current financing gap that is increasing due to the COVID-19 crisis, and will help further expand debt capital markets in the country through new issuances of asset-backed securities. The proceeds from the line will allow AVLA Group to expand its origination of mortgage loans. The warehousing facility may support several accumulation periods, for a maximum total availability period of six years.
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