Hunton Andrews Kurth Represents IDB Invest in Local Currency-Linked Loan to Caja Municipal de Ahorro y Crédito de Arequipa S.A.

Time 2 Minute Read
January 24, 2024
News

On December 7, 2023, the Inter-American Investment Corporation (IDB Invest) as lender of the A/B Loans closed on a financing to Caja Municipal de Ahorro y Crédito de Arequipa S.A., a caja municipal de ahorro y crédito organized and existing under the laws of Peru (Caja Arequipa) for up to the local currency equivalent of $50 million. The first disbursement was made on December 20, 2023, after IDB Invest and the participant secured local currency non-deliverable swaps. This is the first B Loan where the Participant independently hedges its currency exposure.

Caja Arequipa will use the proceeds of the Loans to expand its loans to Peruvian micro and small enterprises owned or managed by women. In addition, it is expected to accompany the financing with technical advisory services to strengthen its sustainability strategy.

The U.S.-based firm of Hunton Andrews Kurth LLP advised IDB Invest as its International Counsel and Garrigues advised it on matters related to Peruvian laws.

International Counsel to IDB Invest:
Hunton Andrews Kurth LLP
Vera Rechsteiner, Partner
Alejandro Silva, International Counsel
Maristella Aldana, Senior Associate

IDB Invest’s In-house Counsel:
Ofelia Díaz Bermudez, Legal Lead Officer 

Peru Counsel to IDB Invest:
J&A Garrigues Perú S. Civil de R.L.
Thomas Thorndike, Partner
Miluska Gutiérrez, Principal Associate
María José Cardoza, Junior Associate

Caja Arequipa In-House Counsel
Rossana Lidia Chasseloup Lopez, General Counsel

Media Contact

Lisa Franz
Director of Public Relations

Jeremy Heallen
Public Relations Senior Manager
mediarelations@HuntonAK.com

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