ME-U0005 : ECON-Pemex Green Bond Securitization Program

The project is the first utilization under the US$400 million uncommitted facility Scaling Up Capital Markets Solution for Financing Energy Efficiency in LAC (RG-X1250). The project consist in a senior revolving credit line to an SPV for up to US$ 150 million comprised by an IDB A loan for up to US$100 million and a US$50 million loan form the China Co-Financing Fund for Latin America and the Caribbean (CHC). The revolving credit line will accumulate a portfolio of energy efficiency projects developed by ECON Soluciones Energéticas Integrales to different Pemex facilities that will be subsequently securitized. In order to obtain adequate financing for these types of projects in terms of tenor, pricing and risk appetite that would be available through capital markets. The second phase will consist of a PCG program for of up to US$100 million in local currency to guarantee a MXN$5 billion Green Bond Program. The green bonds are expected be issued 18 to 24 months after the warehouse line is signed.