Country / Region.............Peru
Infrastructure Sector......Infrastructure Related Services
Borrower..........................GSW, S.A; E.Wong S.A; Hipermercados Metro S.A
Partner.............................CAF, DEG & Banco Financiero(Peru)
Structure..........................Secured Corporate Loan
Total Project Cost...........US$ 119.4 M
CIFI Participation............US$ 6 M
Term.................................8 Years
Investment Summary
CIFI’s US$ 6.0M loan is part of an overall US$ 21.0M financial package that together with an existing loan facility and a local bond issue will allow Grupo de Supermercados Wong (GSW) to implement a capex investment plan that includes the construction of new stores. GSW is the largest (by sales and square footage) supermarket chain in Peru, accounting for approximately 62% of total sales in the supermarket sector in Peru.
Country / Region.............Ecuador
Infrastructure Sector......Infrastructure Related Services
Borrower..........................Favorita Fruit Company
Partner.............................IFC, CAF DEG
Structure..........................Senior Secured Loan
Total Project Cost...........US$ 68 M
CIFI Participation............US$ 8 M
Term.................................8 Years
Investment Summary
CIFI’s US$ 8.0M loan is part of an overall US$ 53.0M financial package to allow Favorita Fruit Company to implement its 2007-2008 capex investment plan and to refinance its short-term debt.
Country / Region.............Belize
Infrastructure Sector......Oil & Gas- Production and Transportation
Borrower..........................CHx Belize LP
Partner.............................Standard Bank (New York, USA)
Structure..........................Corporate Finance
Total Project Cost...........US$ 30 M
CIFI Participation............US$ 4.5 M
Term.................................3 Years
Investment Summary
CIFI’S US$4.5M revolver facility is part of an overall US$30 financial package to allow Belize Natural Energy Joint Venture (BNE JV) to partially finance US$62 capex investment program, in the next three years, for its existing operating wells.
BNE JV was established in 2002 for the purpose of conducting oil and gas exploration and development activities in onshore Belize. The company has been extracting oil (comparable to West Texas Intermediary quality) from a first well since July 2005 and from four additional producing commercial wells since March 2006. Today the company extracts 3,200 barrels per day.
Country / Region.............Argentina
Infrastructure Sector......Hydro Energy
Borrower..........................IMPSA International, inc (Penn, USA)
Partner.............................BCP Securities
Structure..........................Corporate Finance
Total Project Cost...........US$ 36 M
CIFI Participation............US$ 9 M
Term.................................3 Years
Investment Summary
CIFI’s US$9M loan is part of a overall US$24M loan facility to allow Industrias Metalurgicas Pescarmona, S.A. (IMPSA) to undertake working capital and general corporate purpose costs in connection with a project carried out for Empresas Publicas de Medellin (EPM), Colombia.
IMPSA is a well diversified company that markets and delivers heavy steel capital goods products and services throughout Central and South America. It also provides products and services in the auto parts and environmental/waste collection businesses. Currently, IMPSA is the second largest wire harness manufacturer and seller in Mercosur. In recent years, the company has begun a new division for the purpose of developing solutions for the use and exploitation of wind energy. IMPSA currently markets and delivers its products and services to 10 countries outside Argentina, including the USA, Brazil, Philippines, Colombia, France, Italy, Switzerland, China, Malaysia and Taiwan.
