NEW YORK (October 19, 2015) – Holland & Knight advised Banco Latinoamericano de Comercio Exterior S.A. (Bladex) and Bancaribe Curacao Bank, NV, as joint lead arrangers, on a $85 million loan to members of the Magnesita Group, one of the leading producers of refractory products in the world, operating 28 industrial and mining units in different countries including Brazil, Argentina, Germany, France, Belgium, China and the United States. The products are mainly used by steel, cement and glass manufacturers. The transaction closed on October 8.
The loan was made to a borrower within the Magnesita Group, Magnesita Refractories Company, which was organized under the laws of Pennsylvania, and guaranteed by three Magnesita Group companies, including the parent of the borrower organized in Brazil and two other affiliates located in Brazil and Germany. As a result, the transaction involved three separate jurisdictions, the United States, Brazil and Germany. Bladex acted as administrative agent.
Bladex was represented by Holland & Knight and Santos Neto in Brazil. Holland & Knight’s team included New York-based partner Stephen Double and associate Carlos Meza.
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