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Andrews Kurth Kenyon Represents IDB and IDB Invest in COP600 billion (approx. US$220 million) Facilities to IDB and IDB Invest from Financiera de Desarrollo Nacional

March 23, 2018
Washington, DC

(Washington, DC)—On March 23, 2018, the Inter-American Development Bank (“IDB”) and the Inter-American Investment Corporation (“IDB Invest”) closed on two separate local currency financing facilities totaling 600 billion Colombian pesos (approx. US$220 million) from Financiera de Desarrollo Nacional S.A. based in the Republic of Colombia (“FDN”).

The proceeds of the facility are intended to support IDB’s and IDB Invest’s financing of infrastructure projects in the Republic of Colombia spanning several sectors including transportation (which will include projects part of the fourth generation road program expected to span, among others, 8,000 kms of roadway and 3,500 kms of four-lane highways expected to begin in 2018), energy, logistics and production and social infrastructure.  The credit agreements with IDB and IDB Invest allow each of them to request multiple sub-loans with different terms, including with respect to, principal amounts, interest rates and maturity dates, without having to enter into a separate contract with FDN in support of such requests for sub-loans.

The U.S. based firm of Andrews Kurth Kenyon LLP, advised IDB and IDB Invest as international counsel. Contexto Legal Rodriguez Azuero acted as Colombian counsel to IDB and IDB Invest.

Andrews Kurth Kenyon Lawyers 

Vera Rechsteiner, Partner

Siddharth “Sid” Sethy, Associate

Borrowers’ In-house Counsels

Ingrid Arana

Matheus Francisco De Paula Oriolo

Contexto Legal Rodriguez Azuero Lawyers

Daniel Rodríguez Bravo, Partner

Juan David Sáenz, Junior Associate

Lender’s New York Counsel

Clifford Chance

Epifanio Pérez, Partner

Daniel Winick, Partner

Alejandro Espitia, Associate

Andrew Young, Associate

Andrés A. Berry, Associate

About Andrews Kurth Kenyon LLP

Since 1902, Andrews Kurth Kenyon 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 11 locations worldwide, Andrews Kurth Kenyon represents a wide array of clients in multiple industries. For more information about Andrews Kurth Kenyon, please visit andrewskurthkenyon.com.

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