Holland & Knight Advises Banco del País on $100 Million Credit Facility
NEW YORK (October 9, 2020) – Holland & Knight represented Banco del País (Banpais) on a $92.3 million, 12-year unsecured credit facility provided by the U.S. International Development Finance Corporation (DFC) and a $7.7 million, four-year unsecured credit facility provided by Citibank. The transactions closed on September 23.
The DFC and the Citi facilities will support the financing of loans to small and medium-size enterprises in Honduras, including women-owned businesses.
Banpais was founded in 1992 by a group of private investors in San Pedro Sula, Honduras, and acquired by its current majority shareholder Bicapital Corporation. Today, Banpais is the fifth-largest bank in Honduras.
Holland & Knight Partners Norberto Quintana and Stephen Double, Associate Laura Güemes and International Law Clerk Camilo Muriel-Bedoya assisted Banpais in the financing. Consortium Legal Honduras provided local counsel.