Frida

completed

  The proposed investment (the “Project”) consists of a senior debt facility of up to US$225 million to Banco Santander (Brasil) S.A. (“Santander” or the “Bank”) to support the origination of sub-loans to women-owned small and medium enterprises (“WSMEs”) in Brazil. The facility consists of: (i) a 4-year bullet A-loan of up to US$150 million on IFC’s own account, and (ii) a 2-year bullet B-loan of up to US$75 million. Santander is the third largest private bank in Brazil in terms of assets, and the largest foreign bank in the country, belonging to Banco Santander S.A. (Spain), (“Santander Spain”). With a wide branch network comprised of 2,262 branches, Santander is very active in the retail and wholesale business, holding a market share of 8.9% in terms of assets, 9.3% in terms of loans, and 10.7% in terms of deposits in Brazil as of June 2018.