Inter-American Development Bank (“IADB”) closed on a five-year, up to US$ 70,000,000 secured A/B loan to Guatemala’s Banco G&T Continental, S.A.
(Washington, DC)—On August 29, 2009, the Inter-American Development Bank (“IADB”) closed on a five-year, up to US$ 70,000,000 secured A/B loan to Guatemala’s Banco G&T Continental, S.A. (“Banco G&T Continental”).
The US$ 45,000,000 A-loan disbursement was funded by IADB on October 21, 2009, with the B loan subject to later syndication. The new funds will support Banco G&T Continental’s origination in Guatemala of loans to eligible microfinance institutions and micro, small and medium size enterprises.
The loan is documented through a New York law governed loan agreement and secured by a floating lien in a portfolio of loans originated by Banco G&T Continental, the first such security interest to be publicly registered under Guatemala’s new law governing security interests in movable property (Ley de Garantías Mobiliarias) that entered into effect January 2009. The U.S. based firm of Andrews Kurth LLP and the Guatemalan law firm of Consortium-Rodríguez, Archila, Castellanos, Solares & Aguilar, S.C. advised the IADB on the financing.
Attorneys for the IADB:
Ernesto Jiménez and Maria del Pilar Jiménez de Arechaga, In-House Counsel
Andrews Kurth LLP, International Counsel:
Vera Rechsteiner, Partner
Doris Rodriguez, Partner
Andrew Tucker, Partner
Evan Williams, Associate
Consortium-Rodríguez, Archila, Castellanos, Solares & Aguilar, S.C.
Alvaro Castellanos Howell, Partner
Alejandro Cofiño Rodríguez, Partner
Ana Luisa de Gordillo, Associate
Attorneys for Banco G&T Continental:
Asensio, Barrios, Andrade & Asociados
Ignacio Andrade, Partner
About Andrews Kurth LLP
For more than a century, Andrews Kurth has built its practice on the belief that “straight talk is good business.” Real answers, clear vision and mutual respect define the firm’s relationships with clients, colleagues, communities and employees. With 400 lawyers and offices in Austin, Beijing, Dallas, Houston, London, New York, The Woodlands and Washington, DC, Andrews Kurth represents a wide array of clients in multiple industries. For more information about Andrews Kurth, please visit andrewskurth.com.
