Company name

ION Financiera, S.A.P.I. de C.V., Sociedad Financiera de Objeto Múltiple E.R.

Project number

12112-01

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.

E&S category
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FI-3

Country

Mexico

Sector

Financial Institutions

Status

Inactive

Disclosed date

12/25/2017

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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01/24/2018

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Arguello Munoz, Carlos Roberto

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 4,983,980

Currency

MXN

Project scope and objective

The purpose of the project is to support ION’s first long-term corporate bond issuance of Mex$200 million in Mexico. This issuance is part of ION’s Mex$500 million corporate bond issuance program to be registered in the Mexican Stock Exchange. The project will support ION’s strategy to: (i) expand its SME lending portfolio; and (ii) extend its funding tenors and diversify funding sources by tapping capital markets and reaching a new base of investors. IIC’s participation will strengthen ION’s business plan of increasing its SME lending portfolio from Mex$30 million in 2016 to Mex$285 million in 2021.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

SCOPE OF THE ENVIRONMENT REVIEW

30.1 Kb

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

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POSITION

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PHONE NUMBER

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EMAIL

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices