BLP has advised EVERTEC, Inc. (EVERTEC, or the Company) in Costa Rica and Guatemala on the refinancing of its existing credit facilities; the new credit lines consist of $200 million of extended revolving credit and a $415 million term loan A, both maturing on December 1, 2027. The new term loan and a $50 million…
Category Archives: Banking & Finance
Banking & Finance, Blog, Honduras, News
BLP advises on the sale of shares of Banco Popular, S.A. in Honduras
22
Nov
Nov
Banco Popular S.A. is the dominant commercial banker of microcredits in Honduras. IFC, BCIE and Bamboo Capital Partners sold their shareholdings of Banco Popular to Triple Jump via ASN Microkredietfonds, Incofin, BIO Invest, and FMO. BLP, through its Honduran legal team, advised sellers and buyers on the necessary regulatory approval for the sale of shares…
At BLP, Banking & Finance, Blog, El Salvador
BLP advises on the repurchase of bonds of the Republic of El Salvador
26
Sep
Sep
BLP acted as legal counsel to Deutsche Bank Securities Inc. as dealer manager, in respect of certain tender offers made by the Republic of El Salvador to repurchase in cash certain sovereign bonds due in 2023 and 2025, accordingly; for an aggregate of up to US$360 million in the first round, and up to $74 million in…
Analysis, Banking & Finance, Blog, Business Law, Nicaragua
Nicaragua advances with Fintech regulation
16
Sep
Sep
Federico Barrios Director Nicaragua [email protected] Nicaragua has been regulating the application of technological tools in financial activities since, and to the extent that the local market requires the implementation of advances that allow more efficient processes in conducting operations with money. We understand the Fintech concept as everything related to technologies that allow financial innovation,…
At BLP, Banking & Finance, Blog, Costa Rica, Real Estate & Hospitality
BLP advises on the financing of Marina Flamingo in Costa Rica
26
Jul
Jul
BLP has advised both Banco BCT and Marina Flamingo Development Group on granting a syndicated loan for the development of Marina Flamingo, located in the province of Guanacaste, Costa Rica. The loan in tranches is intended for constructive financing of the project’s first stage, soon to start operations. Separate BLP teams advised on the structuring…
At BLP, Banking & Finance, Blog, Environmental, Social and Governance (ESG), Honduras
BLP advises IDB Invest on granting a $40 million financing to Grupo Elcatex in Honduras
20
Jul
Jul
IDB Invest has granted a $40 million financial package to the companies Elcatex and San Juan Textiles, both members of Grupo Elcatex, one of the leading textile conglomerates in Honduras with more than 15,000 employees. The financing consists of $25 million from IDB Invest and the mobilization of $15 million. BLP advised IDB Invest on…
11
Jul
Jul
BLP has advised Banca de Inversión Bancolombia S.A., Banco Agrícola, S.A., and other local and foreign banks on a syndicated loan for up to $348 million, to the AES group. AES is the primary power distributor in El Salvador, and among the group of companies in El Salvador that benefited from this syndicated loan are…
06
Jul
Jul
BLP is pleased to announce the incorporation of Rodrigo Cubero, renowned lawyer and economist, as Senior Counsel. Rodrigo has a PhD in Economics from the University of Oxford, as well as degrees in law and business. He was President of the Central Bank of Costa Rica (BCCR) during the period 2018-2022. He served in senior…
Banking & Finance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Obligation to update information for NGOs in Guatemala
18
Jan
Jan
In Guatemala, Decree number 4-2020 “Reforms to the Law of Non-Governmental Organizations for Development, Decree number 2-2003 of the Congress of the Republic of Guatemala and the Civil Code, Decree-Law number 106 of the Head of Government” entered into force, which establishes, among other provisions, the obligation of a Non-Governmental Organization (“NGO”), registered and operating…
Banking & Finance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Modification to the Instructions for Qualifying Financial Institutions Not Domiciled in El Salvador
17
Jan
Jan
As of January 1, of this year, the new “Instructions for Qualifying Institutions Domiciled Abroad in the context of the Income Tax Law, Tax Law on the Transfer of Personal Property and the Provision of Services and Tributary Code” entered into force. These Instructions regulate tax benefits such as VAT exemption (currently 13%) and income…