Clifford Chance advises Colombia's development bank, Bancoldex, as borrower on a US$400 million credit facility guaranteed by the Multilateral Investment Guarantee Agency (MIGA). The lenders of the facility are JP Morgan Chase Bank N.A., Banco Santander S.A. and Banco Bilbao Vizcaya Argentaria S.A., Milan branch.
The credit facility was signed on June 30, 2020 and will be used by Bancoldex to provide financing to financial intermediaries in connection with Colombia's COVID-19 response programs.
The Clifford Chance team was led by partner Kate McCarthy and included associate Alberto Haito in Washington, DC and associate Julián Hurtado Vallejo in New York.
McCarthy offered, "I am proud that Clifford Chance has advised on another financing in relation to COVID-19 response in the Latin America region. We are pleased to do our part to support pandemic response efforts."