IIC Signs Mexican Stock Market Guarantee Participation Agreement With NAFIN
11/29/2004Mexico City, MEXICO – On November 19, 2004, the Inter-American Investment Corporation (IIC) signed an agreement with Nacional Financiera (NAFIN) to assume up to 50 percent of NAFIN's direct exposure for guaranteeing a Cablemás issue of certificados bursátiles. Cablemás is Mexico's second largest cable television operator.
The guarantee operation, which should be replicable, enhanced the credit rating for the issue and made it eligible for institutional investors such as pension funds that seek highly-rated securities. This is the first time that NAFIN and the IIC provide this type of support for Mexico's capital market for the benefit of medium-size companies.
Signing for NAFIN was Mr. Federico Gutiérrez Soria, Director of Business Banking. Mr. Carlos Roa, Senior Investment Officer, signed on behalf of the IIC.
The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.
Contact: Carlos Roa/Emilio Lozoya
Telephone: (202) 623-3955