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Sodimac Colombia
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 25599
Company nameSodimac Colombia S.A.
Country
Colombia
Sector1Retail (Including Supermarkets, Grocery Stores, etc.)
Environmental categoryB
Department
StatusCompleted
Date SPI disclosedFebruary 28, 2007
Projected board dateMarch 30, 2007
Previous EventsInvested: August 2, 2007
Signed: June 29, 2007
Approved: June 19, 2007
View Environmental & Social Review Summary (ESRS), click here
click here
  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
Sodimac Colombia S.A. (Sodimac or the company) is the largest home improvement retailer in Colombia, operating in the modern sector of the country. Since its inception in 1993, Sodimac has grown steadily reaching 10 stores in five cities (Bogota, Cali, Medellin, Barranquilla and Pereira) under two formats and brands targeting different segments: “Homecenter” and “Constructor”.

Sodimac is seeking from IFC a $50 million long-term corporate loan (in its equivalent in Colombian pesos), of which the first $35 million would be committed and utilized in the near term, and the remaining $15 million would be committed in the next few years. The IFC loan would be utilized for Sodimac’s corporate financing needs, including for its expansion program to be implemented during the next 2-3 years and the refinancing a portion of its existing debt. This investment is an important part of its long-term growth strategy.

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