Becker Glynn Represents International Finance Corporation And Corporación Andina De Fomento In Connection With $250,000,000 Financing Of Large Telecom Operator In Colombia

The Firm served as international transaction counsel to International Finance Corporation (IFC), the private sector arm of the World Bank Group, and Corporación Andina de Fomento (CAF) in connection with a parallel equity investment in Avantel Acquisition Ltd. that closed in November 2013.  IFC’s and CAF’s equity investments will be used to finance the development and expansion of Avantel S.A.S.’s 4G network in Colombia and are part of an equity capital raise by Avantel in which Appaloosa Management and the major shareholder of Avantel, Discovery Capital, also participated. The Firm’s representation of IFC and CAF included advice and assistance during negotiations, drafting of the respective subscription agreements, shareholders agreement and other related documentation and coordinating closing of the transaction with Avantel’s counsel in New York and IFC’s, CAF’s and Avantel’s counsel in Colombia and the British Virgin Islands.