August 6, 2021
IDB Invest, an affiliate of the Inter-American Development Bank (IDB), said it has provided a $40 million credit line to Chilean investment management firm Sartor Finance Group to support the sale of asset-backed securities (ABSs).
Sartor will use the six-year warehouse facility to acquire mortgage loans from the home loans division of local insurance company AVLA and sell them as securities in Chile's bond market, according to IDB Invest.
The line of credit is expected to improve access to fund
US-based multilateral lender supplies a $40 mln credit line for Sartor to buy mortgages from AVLA and securitize them in the local market