Project Disclosures Project Name: Banco Pine S.A. Project Number: BR3781A-01 Expected Consideration Date by the Board: 10/19/2010 Date Posted: 09/10/2010 Investment Summary Company: Banco Pine S.A. Sector: Financial Services Country: Brazil Scope Objective:
Banco Pine S.A. was established in 1997 and it has specialized in providing financing to medium-size Brazilian companies with secured structured operations. It also provides financial and strategic consulting services, treasury and investment products, and BNDES onlending lines.
Banco Pine’s business model is based on market niches with growth and profitability potential, generation of good quality assets, and prudential credit, supervision, and liquidity policies. Its strategy is based on knowing its clients’ needs and providing them with a full range of lending products, both in local and foreign currency, in a responsive and effective manner.
The purpose of this IIC project is to provide financing to Banco Pine to support eligible projects via loans to eligible enterprises. Eligible enterprises shall be those whose annual sales do not exceed US$50 million and whose consolidated annual sales per economic group do not exceed US$150 million, among other conditions. However, Banco Pine shall channel at least an amount equivalent to the A Loan to enterprises with annual sales of up to US$20 million or up to US$50 million per economic group.
Eligible loans shall be loans to eligible enterprises for an amount not to exceed US$4 million per enterprise and US$5 million per economic group, with a term of at least six months. In addition, at least 20% of the funds shall be placed in Brazil’s northwest region. For the A Loan, the individual loan amount would be US$1 million. For the B Loan, loan amounts shall be defined once Banco Pine agrees to the market terms and rates.