Finance roundup: Itaú Argentina, La Nacional, CHG-El Camino

Monday, October 24, 2011

Banco Itaú Argentina is seeking funding from the Inter-American Investment Corporation (IIC) for an A loan of up to US$10mn and a B loan of up to US$30mn to finance SMEs in Argentina, according to a statement from the IIC.

The investment will be mainly used to provide SMEs with short and medium-term financing for general corporate purposes, including leasing and working capital.

The Argentine bank is a unit of Brazil's second largest bank, Itaú Unibanco (NYSE: ITUB).

Start your 15 day free trial now!


Already a subscriber? Please, login

To read the full report, go to this link


The IFC could lend the Dominican Republic's primary mortgage institution, Asociación La Nacional de Ahorros y Préstamos (La Nacional), US$5mn and a partial credit guarantee of up to US$10.5mn to fund lending activity in the middle-low income mortgage sector, according to a statement published on IFC's website.

The proposed financing would support the growth of La Nacional's middle-low income mortgage portfolio. It would also enable the bank to reduce its term mismatch by increasing the quantity and average maturity of its funding through long-term local currency funding.

To read the full report, go to this link


The IFC could also provide funding for Mexican leasing company CHG-El Camino to expand sustainable energy finance initiatives by supporting its lease portfolio growth, a statement on IFC's website reads.

The proposed financing consists of an up to US$20mn senior loan for up to five years, secured by leasing receivables. Proceeds will be used by the company to originate leasing contracts that meet IFC's eligibility criteria.

Eligible transactions include the leasing of energy efficiency, renewable energy and cleaner production equipment that results in material improvement of Mexican SME's energy use.

To read the full report, go to this link