Hogan Lovells guides IDB Invest in US$40 million Honduras textiles investment
New York, Mexico City, 1 July, 2022 — Global law firm Hogan Lovells advised IDB Invest as it granted a US$40 million financing package to Elcatex and San Juan Textiles, both members of the Elcatex Group, one of the main textile groups in Honduras with more than 15,000 employees. The financing consists of $25 million from IDB Invest and $15 million in mobilized capital.
In addition, IDB Invest will offer technical advisory services for the development of a Net Zero strategy, identifying greenhouse gas mitigation and compensation actions for a target year.
IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean. This project is expected to contribute to six United Nations Sustainable Development Goals (SDGs): No Poverty; Decent Work and Economic Growth; Industry, Innovation and Infrastructure; Reduction of inequalities; Responsible production and consumption (SDG 12) and Alliances to achieve the objectives (SDG 17). Read more about the deal at IDB Invest.
The Hogan Lovells team was led by Ricardo Martinez (New York) and Federico De Noriega (Mexico City). Counsels Mauricio Fuchs (Mexico City) and Todd Matras (New York) completed the Hogan Lovells team.