The Firm served as international transaction counsel to the Inter-American Development Bank (IDB) and the Netherlands Development Finance Company (FMO) in connection with a $30 million credit facility to Latin America Export Finance Fund Ltd. that was concluded in December 2004. IDB and FMO each provided loans of $15 million.
Latin America Export Finance Fund Ltd., a Cayman Islands company, is managed by Crecera Finance Company LLC, a U.S. investment manager. The credit facility will be used to provide trade financing to exporters in Argentina, Brazil and Peru and potentially other countries in Latin America.
The Firm’s representation of IDB and FMO during the transaction included advice and assistance during the due diligence process and negotiations, drafting of the loan agreements and related documentation and creation of an offshore account structure to provide security for the loans. The Firm also advised the lenders on the corporate structuring of the borrower and its related entities and, with counsel in Argentina, Brazil and Peru, the structuring of the borrower’s trade financing operations in each of those countries.