Companhia Brasileira de Securitizacao

completed

Summary Of Project Information (SPI)Project Name Brazil - Companhia Brasileira de Securitizacao      RegionLatin America and the CaribbeanSectorProject No008175Projected Board DateApril 27, 1998Company NameCompanhia Brasileira de Securitizacao (CIBRASEC)Technical Partner and/or Major Shareholders Cibrasec shareholders are 34 Brazilian financial institutions, many of which are mortgage orginators. IFC is helping the Company identify a Technical Service Provider.Project Cost Including proposed IFC investment US$53-70 million, including proposed IFC equity investment of up to US$5 million.Location of project and Description of site The Company is located in Sao Paulo and will undertake securitization throughout Brazil.Description of Company and Purpose of Project Cibrasec is a pioneering effort by a local private sector group to develop Brazil’s secondary markets for mortgages and mortgage-backed securities. It will purchase and pool standardized residential mortgages, transferring them to special purpose vehicles that will issue securities backed by the mortgage pools in the local capital markets. IFC has a strong institution-building role.Environmental Category and Issues This is a Category C project according to IFC’s environmental review procedures. No further environmental review is required.Date SPI sent to PIC March 27, 1998“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384