Andrews Kurth Represents IADB in US$90 Million Senior Unsecured B-2 Loan
(BRAZIL) - In August 2008, the Inter-American Development Bank closed and disbursed a US$90 million senior unsecured B-2 Loan facility to Banco Industrial e Comercial S.A. (“BicBanco”), a Brazilian bank. The B-2 Loan was made pursuant to an expansion of BicBanco's existing financing arrangements with IDB signed June 19, 2007, for the amount of US$100 million. The new funds will be used by BicBanco to increase its on lending operations.
IDB led the syndication of the B-2 loan to six U.S. and international banks, along with arrangers WestLB New York Branch and Banco Santander S.A.
The IADB took US counsel from Andrews Kurth LLP.
Counsel to IADB:
In-house counsel - George Rogers
Brazil - Veirano Advogados
Partner Roberto Rudzit Neto and associate Anna Beatriz Margoni
US - Andrews Kurth LLP
Partner Vera Rechsteiner and associate Nara Porto
Counsel to BicBanco:
Brazil - Machado, Meyer, Sendacz e Opice
Partner Nei Schilling Zelmanovits and associate Marcos de Moraes Leme Jarne
U.S. - Landay & Leblang
Partner Susanna V. Stern
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