Andrews Kurth Represents IDB in $10 Million Secured Loan to Banco de Finanzas S.A. (Nicaragua)

(Washington, DC)—On December 3, 2014, the Inter-American Development Bank (“IDB”) closed on a US$ 10 million secured loan facility to Banco de Finanzas S.A. (the “Borrower”). The proceeds of the loan will be used (i) to support the Borrower’s program for the purchase of social housing units in order to rent them out (short- and long-term) to eligible beneficiaries, and/or (ii) to provide funds for the Borrower to underwrite the purchase by eligible sub-borrowers of such social housing units in the Republic of Nicaragua.

The U.S. based firm of Andrews Kurth LLP, advised the IDB as international counsel. Local legal advice was provided by Expertis Castillo y Fiallos in Nicaragua. 

Andrews Kurth Lawyers:

Vera Rechsteiner, Partner

Siddharth Sethy, Associate

Ignacio Hirigoyen, Associate

IDB In-house Counsel:

Martin Stalman, Project Attorney

IDB Nicaraguan Counsel:

Maria Antonieta Fiallos, Partner

Edmundo Castillo, Partner

As released by the former Andrews Kurth Kenyon LLP