Inter-American Investment Corporation’s $180 Million Notes Offering


Ferrere has advised on the transaction

This is the first bond issuance program in local currency registered by a multilateral in Paraguay, and will allow the IIC to finance companies and projects from the Paraguayan private sector, with a particular focus in telecommunications, agribusiness and infrastructure, as well as financial institutions.

The issuances will offer settlement periods based on the underlying projects with fixed or variable interest rates, according to the terms of the projects. This program allows the IIC to finance a total amount of over 1 billion guaraníes (approximately $180 million dollars).

The bonds will be allocated through the Asunción Stock Exchange (BVPASA, in Spanish) by local brokers authorized by the National Securities Commission (CNV, in Spanish) and the BVPASA. The Social Prevention Institute (IPS, in Spanish) has expressed interest to participate in these issuances, as part of the cooperation with the IDB Group to promote the financing of projects with development impact in Paraguay’s productive sector.

The offering in local currency is part of the IIC’s strategy to contribute to the development of capital markets and to reach more clients with more solutions adapted to their needs.

Inter-American Investment Corporation provides financial products and advisory services to large corporates, financial intermediaries, and partially or wholly-owned state enterprises; and micro, small, and medium enterprises. The Firm, led by James P. Scriven, María del Rocío Palafox, Orlando Ferreira, Carlos Roa and Christian Novak, is based in Washington.

FERRERE acted as deal counsel with Néstor Loizaga (Picture) and Pamela Lezcano.

Involved fees earner: Néstor Loizaga – Ferrere Attorneys; Pamela Lezcano – Ferrere Attorneys;

Law Firms: Ferrere Attorneys;

Clients: Inter-American Development Bank; Inter-American Investment Corporation;

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Author: Ambrogio Visconti.