Hogan Lovells Advises IFC on US$250m Portfolio Investment
28 March 2012
LONDON, 28 March 2012 - Hogan Lovells advised the International Finance Corporation (IFC), a member of the World Bank Group, on a US$250 million investment in a US$500 million portfolio of trade and commodities receivables.
The US$250 million investment, by way of sub-participation, to Société Générale is in the context of IFC's US$1 billion Critical Commodities Finance Program, announced on 1st March 2012, to support the export and import of agricultural commodities and inputs globally, and to facilitate imports of energy-related goods in the world’s poorest countries. The programme is part of a US$2 billion initiative to support critical trade flows in developing countries, which have experienced a decline in the availability of trade finance as a result of the financial downturn.
IFC was advised by Hogan Lovells London based partner David Leggott on English law matters and French based partner Baptiste Gelpi on French law matters.
Société Générale was advised by Allen & Overy Paris (Fabrice Faure-Dauphin, Rod Cork and Samy Benhalima).