Hogan Lovells advises IFC in US$27.5 million loan to Jalles Machado
Washington D.C., 15 October 2020 – Global law firm Hogan Lovells advised International Finance Corporation (IFC), a member of the World Bank Group, in its US$27.5 million loan to Jalles Machado, a Brazilian sugarcane processing company and biomass producer. The deal closed on 30 September.
IFC’s investment will help support Jalles Machado by preserving financial liquidity and jobs after the economic impact from the COVID-19 pandemic. The investment will allow Jalles Machado to step up its production of sanitizing products, which have played a vital role in the regional battle against COVID-19 as they are used by individuals as hand sanitizers as well as in hospital, laboratory, and other professional settings.
The investment follows on a US$100 million loan IFC provided to Banco Davivienda to increase its lending for low-income housing, women-owned small businesses and sustainable agribusiness projects in Colombia. Hogan Lovells also advised IFC on this matter.
The Hogan Lovells team comprised senior counsel Thomas Hechl and associates Antonio de la Esperanza and Mariana Amaral.