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LOAN AGREEMENT IIC - BAC

Deal name:
Loan Agreement IIC - BAC

Date completed: February 15, 2010

Value ($): 25,000,000

Partner(s) at your firm working on the deal: Vicente Lines, Andrey Dorado, and Eduardo Zúñiga.

Your firm’s role on the deal (including which jurisdiction’s law it advised on): Legal counsel to the lender, The Inter-American Investment Corporation (IIC) - Costa Rican jurisdiction. Involved: (1) preparing the Due Diligence report, (2) negotiating the promissory note for use as a template in future facilities, and (3) preparing the final Opinion Letter.

Brief description of the deal: US$ 25M Loan Agreement from IIC to BAC San José S.A. for providing a line of credit to finance SMEs. To be repaid in a 4-year term and guaranteed with a promissory note corresponding to each disbursement.

Brief description of why the deal is innovative: BAC will finance entrepreneurship opportunities and SME companies within Costa Rica.