Holland & Knight Advises Chilean Auto Financer on $200 Million Syndicated Term Loan
NEW YORK (November 16, 2023) – Holland & Knight represented Forum Servicios Financieros S.A., a wholly owned subsidiary of Banco Bilbao Vizcaya Argentaria S.A. (NYSE: BBVA), as the borrower of a senior unsecured syndicated loan for up to $200 million from BTG Pactual, Standard Chartered Bank and other financial institutions. Half of the credit facility was disbursed on October 4.
The remaining $100 million is expected to be disbursed through pre-approved incremental term loans and/or through new incremental term loans.
Headquartered in Santiago, Chile, Forum is the leading player in the auto financing industry. The company provides loans and auto leases for the purchase of light and heavy vehicles, as well as motorcycles.
Based in Madrid and Bilbao, Spain, BBVA is a multinational financial services company and one of the largest financial institutions in the world.
Holland & Knight's representation of Forum was led by Partner Norberto Quintana. He was assisted by Associate Pedro de Elizalde.