credits, a Colombian consumer loan company, obtained financing for 100 million dollars. The money will be used to refinance existing international debt and invest in the future growth of the company.
UBS O’Connor and Gramercy acted as lenders in the operation that closed on June 2, it will have a term of 36 months.
The firms Muñoz Aya and Clifford Chance – United States (New York) participated in the transaction as advisers to Credivalores. The lenders were represented by Latham & Watkins – United States (New York). It transpired that Gómez-Pinzón Abogados participated as an advisor to UBS O’Connor and Gramercy, but did not respond to requests for information.
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This financing is guaranteed by accounts receivable from credit cards issued to the Colombian population that does not have banking services. In addition, it is guaranteed by a trust that maintains loans originated by Crediuno, Credivalores’ credit card business.
The borrower announced that it will make several repurchases of bonds in dollars at 9.75% maturing in 2022 for a total of 3.6 million dollars.
Credivalores is a non-banking financial institution with a strong presence in Colombia specializing in providing payroll and consumer loans.
legal advisers
Asesores de Credivalores-Crediservicios SA:
- Munoz Aya (Bogotá): Partners Edgar Muñoz and Lina Lineros. Associates Gabriel Contreras, Alejandra Restrepo and Daniela Hoyos.
- Clifford Chance – United States (New York): Partner Hugo Triaca. Associate Luis Maria Clouet. Legal assistant Jorge Bojalil.
UBS O’Connor and Gramercy Lender Advisors:
- Latham & Watkins – United States (New York): Partners Gianluca Bacchiocchi, Guido Liniado and Matthew Henegar. Associates Claire Park, Elena Romanova, Peter Philip Erasmus. International partners João Assunção and Javier Constanzó. Attorney Timothy McCarten.
- * Gómez-Pinzón Lawyers SAS
* He did not respond to requests for information.
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