Hunton Andrews Kurth Represents IDB Invest in $145 Million A/B Loan to Banco Davivienda Costa Rica S.A.

On January 30, 2023, the Inter-American Investment Corporation (IDB Invest) as lender of the IDB Invest Loan, and acting as agent on behalf and for the benefit of the Inter-American Development Bank (IDB), as lender of the IDB Loan, closed on an up to $145 million (of which $115 million is committed) unsecured A/B loan facility to Banco Davivienda Costa Rica S.A., a financial institution organized and existing under the laws of Costa Rica (Banco Davivienda Costa Rica). IDB Invest syndicated the IDB Invest Loan to Banco Aliado S.A., BHD International Bank (Panama), Banco Santander S.A. and Global Bank Corporation as participant banks. Banco Davivienda Costa Rica will use the proceeds of the loans to expand its green project portfolios and financing in Costa Rica. Further, the project will also include a technical advisory services component provided by IDB Invest to strengthen new strategies and business niches for Banco Davivienda Costa Rica’s green portfolio.

The U.S.-based firm of Hunton Andrews Kurth LLP advised IDB Invest as international counsel. BLP Legal provided Costa Rican legal advice to IDB Invest.  

International Counsel to IDB Invest:

Hunton Andrews Kurth LLP
Vera Rechsteiner, Partner
Jessica Rivero, Associate

IDB Invest’s In-house Counsel:
Vanessa Marzo Martín

Costa Rican Counsel to IDB Invest:

BLP Legal
Pablo Umaña, Partner
Julio Castellanos, Partner
Luis Herrera, Associate

Davivienda’s In-house Counsel:
Franklin Villalobos Montero, Legal Director and Corporate Secretary