BLP advises Grupo Unicomer on a syndicated loan for US$350 million

BLP, renowned for its prowess as legal counsel, has provided pivotal advice in a US$350 million loan transaction granted to Grupo Unicomer by a pool of syndicated banks, where several subsidiaries of Unicomer in LATAM and the Caribbean have acted as guarantors.

Our legal guidance spanned the entire process, from negotiations to signing the credit agreement, and included the preparation and execution of creative local documentation, such as local acknowledgments, security trusts, and promissory notes. This syndicated loan granted to Grupo Unicomer includes a roster of first line creditors, such as Banco General, Citibank, Banco Industrial, Bac International Bank, Banco Bac San José, Banco de América Central, Bancolombia, Banco Davivienda, Banco G&T Continental, and Fondo General de Inversiones. BLP also acted as transactional counsel in several jurisdictions, providing structural advice to the pool of Banks.

With a presence in 25 countries across Latin America and the Caribbean, Unicomer stands tall as a renowned multinational entity in the retail sector, having pioneered the issuance of corporate bonds in Central America, headquartered in El Salvador.

The BLP team, spearheaded by partners Zygmunt Brett and Mariana Nochez in El Salvador, collaborated seamlessly with partners Julio Castellanos, Pablo Umaña, and associate Luis Herrera in Costa Rica. Further enriching the team with partner Ernesto Rizo and senior associate Michelle Avilés in Nicaragua, alongside partner José Alvarez and associate Ivis Alvarado in Honduras.

The BLP team, spearheaded by partners Zygmunt Brett and Mariana Nochez in El Salvador, collaborated seamlessly with partners Julio Castellanos, Pablo Umaña, and associate Luis Herrera in Costa Rica. Further enriching the team were partner Ernesto Rizo and senior associate Michelle Avilés in Nicaragua, alongside partner José Alvarez and associate Ivis Alvarado in Honduras. Further, BLP coordinated the legal teams in the other participating jurisdictions in LATAM and the Caribbean.

This successful transaction reflects BLP’s capacity to provide comprehensive and multijurisdictional counseling in complex financial transactions, reinforcing our standing as trailblazers in the legal arena within the region.