Andrews Kurth Kenyon Represents IDB and IDB Invest in COP600 billion (approx. US$220 million) Facilities to IDB and IDB Invest from Financiera de Desarrollo Nacional

(Washington, DC)—On March 23, 2018, the Inter-American Development Bank (“IDB”) and the Inter-American Investment Corporation (“IDB Invest”) closed on two separate local currency financing facilities totaling 600 billion Colombian pesos (approx. US$220 million) from Financiera de Desarrollo Nacional S.A. based in the Republic of Colombia (“FDN”).

The proceeds of the facility are intended to support IDB’s and IDB Invest’s financing of infrastructure projects in the Republic of Colombia spanning several sectors including transportation (which will include projects part of the fourth generation road program expected to span, among others, 8,000 kms of roadway and 3,500 kms of four-lane highways expected to begin in 2018), energy, logistics and production and social infrastructure.  The credit agreements with IDB and IDB Invest allow each of them to request multiple sub-loans with different terms, including with respect to, principal amounts, interest rates and maturity dates, without having to enter into a separate contract with FDN in support of such requests for sub-loans.

The U.S. based firm of Andrews Kurth Kenyon LLP, advised IDB and IDB Invest as international counsel. CMZ Rodríguez-Azuero acted as Colombian counsel to IDB and IDB Invest.

Andrews Kurth Kenyon Lawyers 

Vera Rechsteiner, Partner

Siddharth “Sid” Sethy, Associate

Borrowers’ In-house Counsels

Ingrid Arana

Matheus Francisco De Paula Oriolo

CMZ Rodríguez-Azuero Lawyers

Daniel Rodríguez Bravo, Partner

Juan David Sáenz, Junior Associate

Lender’s New York Counsel

Clifford Chance

Epifanio Pérez, Partner

Daniel Winick, Partner

Alejandro Espitia, Associate

Andrew Young, Associate

Andrés A. Berry, Associate

As released by the former Andrews Kurth Kenyon LLP