Hogan Lovells represents the OPEC Fund for International Development on US$50M financing for Banco Davivienda to support women-owned businesses and social projects in Colombia
Washington D.C., 21 July 2020 — Global law firm Hogan Lovells represented the OPEC Fund for International Development (OPEC Fund) in its US$50 million term loan agreement with Banco Davivienda. The loan from the OPEC Fund will be used for continued investment in Banco Davivienda’s ongoing efforts to address the lack of financial access for under-served segments of the Colombian population.
Banco Davivienda, one of Colombia’s largest and most important banks, will use the loan to strengthen its capital base under Basel III requirements (New Tier 2) and support women-owned, micro-, small- and medium-sized enterprises (MSMEs), social housing, and green building projects in Colombia.
This is the third major loan to Banco Davivienda Hogan Lovells has advised on. In May, we represented the IFC in a US$100 million financing to the bank to support Colombia’s economy as it was impacted by COVID-19, and we advised IFC on a US$335 million loan to the bank in January.
The Hogan Lovells team was led by senior counsel Thomas Hechl, international legal counsel Antonio De La Esperanza and associate Mariana Amaral.
More information can be found in the OPEC Fund’s press release.