Global Bank Corporation’s $60 Million Loan

Hunton Andrews Kurth, Morgan & Morgan, Alfaro, Ferrer & Ramírez and Mayer Brown advised on the transaction

Inter-American Investment Corporation as lender, and as agent on behalf of Inter-American Development Bank, closed on a $60 million A loan facility (with a B loan to be syndicated) to Global Bank Corporation, a sociedad anónima organized and existing under the laws of the Republic of Panama.

The proceeds of the loan will be used by Global Bank Corporation to originate sub-loans to sub-borrowers in Panama with up to thirty percent (30%) of the proceeds to female persons.

The U.S. based firm of Hunton Andrews Kurth LLP advised IDB Invest as international counsel with a team including Vera Rechsteiner (Picture), Sid Sethy and Christopher Peña.

Panamanian legal advice to IDB Invest was provided by Morgan & Morgan with a team including Ramón Varela.

Panamanian legal advice to Global Bank Corporation was provided by Alfaro, Ferrer & Ramírez.

The U.S. based firm of Mayer Brown LLP advised Global Bank Corporation.

Involved fees earner: Siddharth Sethy – Andrews Kurth Kenyon; Vera Rechsteiner – Hunton Andrew Kurth; Ramon Varela – Morgan & Morgan;

Law Firms: Andrews Kurth Kenyon; Hunton Andrew Kurth; Morgan & Morgan;

Clients: IDB Invest;

Author: Ambrogio Visconti