Arias represented Banco Latinoamericano de Comercio Exterior S.A. (Bladex) as Lender, Administrative Agent, Sole Lead Arranger, and Bookrunner in an up to US$101.5 million dual tranche Term Loan to Financial Group Credi Q.
The Sindicated loan to CrediQ, to be used for CrediQ working capital en El Salvador and Costa Rica. The sindicated loan was structured in two senior tranches: (i) an unscured tranche for the amount of $35,800,000 and (ii) a secured tranche for the amount of $65,700,000
The Facility was documented through a New York Loan Agreement, and as legal counsel, Arias managed the local security agreements, the promissory notes, and legal opinions. As well as the meticulous review of the Loan Agreement to make sure it would not breach any of the corresponding jurisdiction’s laws.
Arias structured the loan and its particularities to achieve a successful outcome in the deal. The matter required specific technical abilities and extensive knowledge of the subject.
Established in 1991, CrediQ is the captive financial arm of GrupoQ, one of the leading vehicle dealerships in Central America with a track record of 70 years and operations in Costa Rica, El Salvador, Honduras, Nicaragua and Guatemala. CrediQ finances the acquisition of vehicles primarily to SMEs and individuals in the middle- and lower-middle-income segments. The Company absorbs over 40% of GrupoQ's vehicle sales.
Lawyers involved from Arias Costa Rica Mariana García, Associate, Vicente Lines and Diego Gallegos, Partners
Lawyers involved from Arias El Salvador: Ana Mercedes López, Partner and Rafael Burgos, Senior Associate.