BECKER GLYNN REPRESENTS DEG AND FMO IN APPROXIMATELY $44 MILLION FINANCING OF THE CONSTRUCTION OF HYATT PLACE HOTELS IN THE REPUBLIC OF HONDURAS AND THE REPUBLIC OF NICARAGUA

The Firm served as international transaction counsel to DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) and the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) in connection with (i) an approximately $33 million credit facility to Desarrollos Hoteleros de Honduras S.A. de C.V. for purposes of the development and construction of two greenfield hotels in the Republic of Honduras and (ii) an approximately $11 million credit facility to Desarrollos Hoteleros de Nicaragua, S.A. for purposes of the development and construction of a greenfield hotel in the Republic of Nicaragua.  The three hotels are designed and will be operated under the Hyatt Place brand, a 4-star select-service hotel concept from the Hyatt Group.  The initial closing of the transaction occurred in the fall of 2014.  The Firm’s representation of DEG and FMO during the transaction included advice and assistance during the due diligence process and the drafting and negotiation of the loan agreement and related documents, as well as post-closing modifications. The Firm also assisted DEG and FMO in coordinating the Honduran and Nicaraguan legal aspects of the transaction with, respectively, Honduran and Nicaraguan counsel to the lenders and the borrower.