Hogan Lovells advises National Commercial Bank Jamaica Limited on DPR program in Jamaica
New York, 2 October 2020 – International law firm Hogan Lovells advised National Commercial Bank Jamaica Limited in Jamaica Diversified Payment Rights Company’s issuance of its US$250 million Series 2020-1 Fixed Rate Notes due 2030 to a number of accredited institutional investors.
Jamaica Diversified Payment Rights Company has issued Notes in its DPR program since 2006. As part of this issuance, Jamaica Diversified Payment Rights Company amended and restated its DPR program as well as the underlying documents to include the latest financial technology in its market space. Westwood Capital acted as sole Placement Agent.
The Hogan Lovells team was led by New York Capital Markets partner Emil Arca, counsel Russell Slanover, and associates Lauren Kimmel and Juan Moreno. In August, the same team also advised Banco Industrial S.A on an issuance under its diversified payment rights (DPR) securitization program in Guatemala. Further, in February, the firm also advised Banco del Pacífico S.A. (BdP) on the establishment of, and first issuance under, its DPR securitization program in Ecuador.