ABN AMRO REAL

completed

The project entails a $75 million credit line (Credit Line) to be provided to Banco ABN AMRO Real S.A. (Banco Real or the Bank). Proceeds from the Credit Line will be used by Banco Real for: - origination of eligible (i.e., predominantly SME) domestic trade receivables from Brazilian corporates, which would be securitized in an appropriate, bankruptcy-remote ABS (i.e., Fundos de Investimento em Direitos Creditórios or FIDC) format, and eventually placed with local investors, and - on-lending activities to support two forms of sustainability-oriented business activities at the Bank, (environment-related lending and credit support for family-owned, middle market companies that improve their corporate governance practices). The lending in (ii) above will be identical to the purpose of the $51 million IFC Sustainability Credit Line (SCL) currently outstanding to Banco Real. The project is intended to: - Broaden the availability to local companies of funding sourced in the domestic capital markets using recently established FIDC structures, and thereby allow these companies to provide incremental credit (at more favorable terms) to their SME – as well as other end-consumer – clients. - Encourage further Sustainability-targeted (in particular, Environment- and Corporate Governance-related) reforms in Brazilian companies, like those already being engendered by the SCL outstanding to Banco Real.