IFC arranges $255 mln in loans to Brazil hospital chain Rede D'Or
SAO PAULO Dec 15 (Reuters) - The International Finance Corp , the World Bank's investment-banking arm, and a group of partners agreed on Monday to extend $255 million in loans to Rede D'Or São Luiz SA, helping Brazil's largest hospital chain boost coverage.
Washington, D.C.-based IFC will lend $50 million from its own account, and helped arrange another $205 million in a syndicated loan with Banco Santander SA, Citigroup Inc, Proparco and the IFC managed Co-Lending Portfolio Program, it said in a statement.
This is IFC's second investment in Rede D'Or, it added. The loans should help bolster private sector presence in Brazil's $200 billion healthcare industry, which is growing rapidly but is increasingly facing a shortage of hospital capacity and qualified healthcare professionals.
Rio de Janeiro-based Rede D'Or operates 26 hospitals, with more than 4,000 beds, that provide multi-specialty services. Proceeds from both loans will help Rede D'Or train and create 12,000 more jobs, add 1,800 hospital beds and serve 525,000 more patients each year, the statement added. (Reporting by Guillermo Parra-Bernal; Editing by Richard Chang)
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