Becker Glynn represents Export Development Canada and International Finance Corporation in $100 Million Dominican Airport Financing

The Firm represented Export Development Canada (EDC) and International Finance Corporation (IFC), the private sector arm of the World Bank Group, as international transaction counsel in connection with a $100 million long-term credit facility to Aeropuertos Dominicanos Siglo XXI, S.A. (Aerodom) that was concluded in February 2005.

The credit facility consists of a $60 million loan from IFC, composed of a $45 million “A” loan for IFC’s account and a $15 million “B” loan funded by the participation of Caja de Ahorros del Mediterraneo, a Spanish bank, and a $40 million separate loan from EDC.

Aerodom, a Dominican company, manages six airports in the Dominican Republic. The financing provided by IFC and EDC will be used by Aerodom in the upgrade and expansion of the airports under its management, as well as in the construction of an additional international airport in the Dominican Republic.

The Firm’s representation of EDC and IFC included advice and assistance during negotiations, drafting of the loan agreements and related documentation, creation of the offshore receivables account for security purposes and assisting Dominican counsel in the creation of the local components of the security.