Banrural

Publication Date:	martes, marzo 11, 2008
News Title:	Consortium Centro America Abogados acted as legal counsel to Citibank, IDB and DEG in a US$ 85 million loan to Banrural
News Details:
Consortium Centro America Abogados through its office in Guatemala , Consotium-Rodríguez, Archila, Castellanos, Solares & Aguilar, acted as legal counsel to Citibank, IDB and DEG. The loan transaction consisted of a two-loan package totaling US$85 million. The first loan of US$45 million was a secured syndicated loan, where Citibank was the lead lender and arranger. The security package securing this first loan consisted of a portfolio of Banrural receivables deriving from type “A” local mortgage loans. The remaining US$40 million consisted of an unsecured subordinated loan granted by the Inter-American Development Bank (“IDB”) and Deutsche Investitions- und Entwicklungsgesellschaft mbH (“DEG”). This part of the transaction is governed by New York law. The Guatemala Receivables Pledge Security Agreement consisted on an innovative mechanism involving a floating pledge over receivables of the ever-changing portfolio. Such agreement is governed by Guatemalan law. Local legal counsel for lenders (Citibank, IDB and DEG): Álvaro Castellanos and Alejandro Cofiño from Consortium-Rodríguez, Archila, Castellanos, Solares & Aguilar Local legal counsel for Banrural: Carlos Fuentes-Pieruccinni US counsel for Citibank: Albert Pacelli from Pillsbury Winthrop Shaw Pittman LLP – NY Office US counsel for IDB: Sandra Gebhardt and Jeffrey Goodman from Fulbright & Jaworski–Washington DC office US counsel for Banrural: Hunton & Williams LLP – Miami office Consortium Centro America Abogados Offices: Guatemala: Consortium-Rodriguez, Archila, Castellanos, Solares & Aguilar El Salvador: Consortium Centro America Abogados-office in El Salvador Honduras: Consortium-J. R. Paz y Asociados Nicaragua : Consortium-Taboada & Asociados Costa Rica: Consortium-Laclé & Gutiérrez

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