CAMESA PCG II

completed

Consejo de Asistencia al Microemprendedor, S.A. de C.V., S.F.P. (“CAMESA” or the “Company”) is an existing IFC Client that provides micro loans to over 360,000 active borrowers. CAMESA provides financing at the Bottom of the Pyramid (“BOP”) for the C and D socio-economic segments of the population. Through the proposed project, IFC will provide a Partial Credit Guarantee (“PCG”) of up to 50% of the amount of two bonds to be issued by CAMESA, to support the Company’s long-term issuance program and further strengthen its name in the local capital markets. In addition, since the bonds will be paying a variable interest rate to the bondholders, the proposed project also entails IFC providing interest rate swaps, from variable into fixed rate, to hedge the interest rate risk exposure.