Holland & Knight advises CrediQ on OPIC credit facility

  • The Netherlands
  • 10/03/2018
  • Iberian Lawyer

Law firm Holland & Knight has advised El Salvador-based vehicle financing services company CrediQ on a $142.5 million nine-year secured credit facility provided by the Overseas Private Investment Corporation (OPIC), in addition to a $11.8 million three-year secured facility provided by Citibank N.A.

OPIC and Citi term facilities will support the expansion of CrediQ’s vehicle finance and lending programs for small and medium enterprises in Central America, helping them address the challenges they often face when accessing financing in the region, according to the law firm. 

The credit facilities also support the refinancing of two existing Citi-OPIC risk-sharing facilities and certain short-term debt.

Holland & Knight partner Norberto Quintana and associate Laura Güemes led the firm’s work on the deal, and who were assisted by partner Stephen Double and associate Daniel Ramos.

LatamLex in Central America acted as local counsel to CrediQ, while OPIC and Citi were advised by Clifford Chance and Arias Law in Central America.