Holland & Knight Represents Bancóldex on $292 Million Colombian Peso-Linked Loan from JP Morgan Chase and Guaranteed by MIGA
NEW YORK/BOGOTÁ (Jan. 17, 2023) – Holland & Knight represented Bancóldex, Colombia’s development bank that promotes business growth and foreign trade, in securing a $292 million (1.4 trillion Colombian pesos) Colombian peso-linked loan from JP Morgan Chase. The transaction closed on Dec. 19, 2022.
Headquartered in Bogotá, Bancóldex is a Colombian state-owned bank that focuses on promoting exports, supporting productivity and competitiveness with an emphasis on micro, small and medium enterprises (MSMEs), while contributing to environmental protection and climate change mitigation. Bancóldex also serves to restore the business fabric in areas impacted by disaster or with deteriorated economic conditions.
The Multilateral Investment Guarantee Agency (MIGA) acted as guarantor to the transaction. The loan is expected to help Bancóldex strengthen Colombia's financial position by providing financing loans to micro and small enterprises.
Holland & Knight Partner Stephen Double in New York and Partner Camilo Gantiva Hidalgo and Associate Juan Felipe Fontecha Mejía in Bogotá led the firm's representation of Bancóldex.