North American Development Bank and Fondo de Fondos ring opening bell at Mexican Stock Exchange
Mexico City. – The North American Development Bank (NADB) and Corporación Mexicana de Inversiones de Capital, S.A. de C.V., (FONDO de FONDOS) performed the traditional “ringing of the bell” to open the Mexican Stock Exchange (BMV) this morning and mark the issuance of a Capital Development Certificate (CKD) for financing infrastructure projects.
NADB Managing Director Alex Hinojosa and FONDO de FONDOS General Manager Felipe Vilá, along with BMV General Manager José-Oriol Bosch Par, presided over the ceremony, in which the 4-billion-peso CKD was launched. The purpose of the CKD, which was executed and funded by institutional investors at the beginning of June, is to provide co-financing for potential loans that will support the implementation of sustainable infrastructure projects.
NADB will provide advisory services in the origination of projects, leveraging its experience in the structuring and financing of infrastructure in the sectors eligible under its mandate, as well as cover at least 20% of the total investment to be made by the CKD and the Bank, in a particular project.
“All projects in which NADB participates go through an in-depth legal, technical, financial, fiscal and environmental due diligence process, which allows us to identify and minimize the associated risks,” stated NADB Managing Director Alex Hinojosa. “This vehicle will facilitate access to stable, long-term investments for the institutional investors participating in this transaction.”
With US$405 million in initial paid-in capital from the Governments of the United States and Mexico, NADB has leveraged investments totaling $8.20 billion in sustainable infrastructure, resulting in a leverage ratio of $20 dollars for every dollar invested by the Bank.