ABL Trust Mexico

completed

 The proposed project consists of (i) a 5-year senior secured loan for up to MXN2,000 million (~US$100 million equivalent) to a Special Purpose Vehicle (Trust or the Borrower); and (ii) up to 400 million (~US$20 million equivalent) to be committed at a later stage in form of a credit enhancement (PCG) or a senior pari-passu participation in the Trust’s issuance in the capital market.  On a first stage, the Trust will acquire and hold the receivables from leased assets originated by up to three different Mexican leasing companies. On a second stage, once the portfolio of leased assets reaches a critical size, the Trust is expected to place the structure in a private/public issuance.  At that time, IFC will provide either a credit enhancement or participate as anchor investor through a senior pari-passu investment of up to 20% of the issuance.