Quick Facts

Where the impacts of the investment may be experienced.
  • Mexico
Location: Monterrey
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Investment Corporation (IIC)
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-12-12
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Axtel S.A.B. de C.V. and its subsidiaries
The holder of the loan, grant, or other investment.
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ IIC website
Updated in EWS: 2018-01-08
Disclosure Date: 2017-11-02
Axtel S.A.B. de C.V. and its subsidiaries

Project Description
From the IIC: Axtel is a company that provides Information and Communication Technology (ICT) services, primarily to the corporate, government, small- and medium-sized business, and residential sectors. It was formed in 2016 through the merger of operations under the brands names Axtel and Alestra. The Mexican consortium Alfa S.A.B. de C.V. (ALFA) holds 53% of the capital. With its main headquarters in Monterrey, it offers local service in 45 cities, data services in 53 towns and 10 cities with fiber network to homes or businesses (FTTx). The company has eight network operating centers, a network totaling 40,388 Km and more than 7,000 m2 of web hosting in six data centers. The project consists of financing via factoring of the more than 1,500 active suppliers of in Axtel's supply chain. See original disclosure for IIC's ENVIRONMENTAL REVIEW, Risk Assessment, and Environmental and Social Action Plan.
Investment Description
The transaction consists of IDB Group participation in the financing, via electronic factoring, of suppliers in Axtel’s supply chain through a revolving and uncommitted discount line for a maximum amount of US$40,000,000 (forty million U.S. dollars) or the equivalent thereof in Mexican pesos. Under that discount line, the IIC will acquire, at its full discretion and through the electronic platform of E Factor Network, S.A. de C.V. (“EFN”), credit rights against Axtel of eligible suppliers which have previously been acquired by E Factor Diez, S.A. de C.V. SOFOM ENR (“EFD”).
Private Actors
Contact Information
ACCOUNTABILITY MECHANISM OF IIC The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).