IIC approves A/B Loan of up to US$25 million to Tablemac MDF S.A.S. in Colombia
Washington, D.C. - On November 30, 2010, the Inter-American Investment Corporation (IIC) approved a loan to Tablemac MDF S.A.S. ("Tablemac") for a total of up to US$25 million, consisting of an A loan of up to US$5 million to be financed by the IIC and a B loan of up to US$20 million.
The loan proceeds will allow Tablemac to build a plant to manufacture medium-density fiberboard (MDF), with an annual production capacity of 132,000 m3. The plant will be located in Barbosa, northeast of Medellin.
According to Olga Lucía De Narváez, IIC Investment Officer in charge of the operation, "With this operation, the IIC will contribute to sustainable economic growth in the Department of Antioquia by creating jobs, promoting foreign exchange savings, and developing the private sector. The loan will enable Tablemac to expand its product portfolio into an attractive MDF market, which has grown considerably in recent years, and for which there is no local manufacturer in Colombia."About Tablemac MDF S.A.S.
Tablemac S.A. owns 100% of Tablemac MDF S.A.S. It is one of the main particleboard and furniture manufacturers in Colombia. For more information about Tablemac, visit www.tablemac.comAbout the IIC
The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2009, the IIC reached US$1.4 billion in assets and approved 4 operations channeling US$24 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int
Contact: Olga Lucía De Narváez
Telephone: + (571) 325-7052