BLP has advised a group of several first-line creditors, including Banks from the following financial groups: Bancolombia, Davivienda, BAC, Aval, Banco Industrial, and Banco General, on a syndicated loan for US$700 million, granted to Grupo Calleja, the leading grocery retailer in El Salvador.
The credit facility’s primary purpose is the acquisition by Grupo Calleja of Almacenes Exito, a Colombian retail company with over 2,600 stores in Colombia and South America.
BLP acted as the legal advisor to the arrangers and the syndicated lenders. The legal support included the preparation and formalization of the transactional documentation, including the execution and registration of the underlying security package.
The transaction, completed on 25 January, involved the jurisdictions of El Salvador, Panamá, Colombia, Guatemala, Costa Rica, and the United States.
Leading the BLP team were partners Zygmunt Brett and Mariana Nóchez in El Salvador.
With the successful outcome of this transaction, BLP reinforces its comprehensive advisory in complex and high-profile financial operations.
