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Latin America Export Finance Fund
26 March 2010
Filling a gap in LatAm SME trade finance
MLA/lead arranger: Inter American Development Bank (IDB)
Participating banks: Bayern LB (syndication agent); KfW Ipex Bank; Espirito Santo Investment; Caixa Geral de Depósitos
Borrower: Latin America Export Finance Fund
Amount: $117.5 million (A loan $40 million / B loan $77.5 million)
Tenor: A loan – 3-years; B loan – 2-years
Rating: Baa3 Investment Grade, Moody’s
Lawyers: Becker Glynn; Wilmer Hale |
Latin American SMEs were particularly hardly hit by the credit crisis, so it was refreshing to see this strong collaborative effort that brings together a multilateral agency, commercial banks, and a commodity trade finance fund, step up to meet this challenge head on. Throughout the crisis the fund in question performed well and the syndication brought in two additional banks, making this an award-winning deal that shows real innovation.
In this transaction, the Inter American Development Bank (IDB) led, and was the...
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