NEW YORK (Oct. 2, 2018) – Holland & Knight represented CrediQ on a $142.5 million nine-year secured credit facility provided by the Overseas Private Investment Corporation (OPIC) and a $11.8 million three-year secured facility provided by Citibank N.A. The transaction closed on September 12.
Based in El Salvador, CrediQ offers vehicle financing services to customers. The OPIC and Citi term facilities will support the expansion of CrediQ’s vehicle finance and lending programs for small and medium enterprises in Central America, helping them address the challenges they often face when accessing financing in the region. The facilities also support the refinancing of two existing Citi-OPIC risk- sharing facilities and certain short-term debt.
Holland & Knight partner Norberto Quintana and associate Laura Güemes led the firm's work on the deal. They were assisted by partner Stephen Double and associate Daniel Ramos. LatamLex in Central America acted as local counsel to CrediQ.