📋 Tender Overview
Project Number: 50120
Company Name: BANCO INDUSTRIAL SA
Date SPI Disclosed: Sep 18, 2024
Country: Guatemala
Region: Latin America and the Caribbean
Projected Board Date: Oct 18, 2024
Environmental Category: FI-2
Status: Pending Approval
Department: Regional Industry FIG LAC & EUR
Industry: Financial Institutions
Sector: Commercial Banking - General
Project Description
The proposed investment consists of an up to US$350 million financing package to Banco Industrial S.A. ( Banco Industrial , Industrial , BI or the Bank ) in Guatemala, composed of: (i.) an up to US$190 million senior unsecured A loan for IFC’s own account (IFC A Loan), part of which benefits from US$90.0 million unfunded mobilization through the Managed Co-Lending Portfolio Program (MCPP) FIG III program, in which IFC will transfer the credit risk to insurance companies, which results in a net IFC own-account exposure of not more than $100 million; and (ii.) a mobilized tranche of up to US$160.0 million from B and/or Parallel Lenders.
The loan proceeds will be used to fund the growth of the Bank’s climate-related assets, SMEs portfolio and sustainable housing. The proposed senior unsecured IFC A Loan will have a maturity of up to 4-years, with a 1-year grace period.
Total Project Cost and amount and nature of IFC's Investment: The proposed investment consists of an up to US$350 million financing package to Banco Industrial S.A. in Guatemala, composed of: (i.) an up to US$190 million senior unsecured A loan for IFC’s own account (IFC A Loan), part of which benefits from US$90.0 million unfunded mobilization through the Managed Co-Lending Portfolio Program (MCPP) FIG III program, in which IFC will transfer the credit risk to insurance companies, which results in a net IFC own-account exposure of not more than $100 million; and (ii.) a mobilized tranche of up to US$160.0 million from B and/or Parallel Lenders.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington, DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
