Clifford Chance

Clifford Chance advises IDB Invest on syndicated loan to finance small businesses in Chile

Washington, DC: Global law firm Clifford Chance has advised Inter-American Investment Corporation (IDB Invest) as lender in connection with a US$255 million syndicated loan to Chilean bank Banco Internacional. The proceeds of the loan will support the growth of Banco Internacional's profile of loans to micro, small and medium enterprises (MSMEs) operating in Chile.

As part of the financing, IDB Invest will provide advisory services to Banco Internacional to promote a strategic plan intended to strengthen financing in projects related to climate, gender and social issues. The deal is expected to contribute to the following UN Sustainable Development Goals:

• Decent Work and Economic Growth (SDG 8)
• Industry, Innovation and Infrastructure (SDG 9)

Counsel Kate McCarthy commented, "We're pleased to support our long-time client IDB Invest on this project that will bring much needed funding to the MSME sector, which accounts for more than 65% of jobs in Chile."

Partner Jessica Springsteen added, "Our team is proud to advise on a transaction that promotes sustainable financing and supports UN Sustainable Development Goals while reinforcing Chile's commitment to finance the MSME sector."

Working with McCarthy and Springsteen were associates Daniel Justus and Brianna Jones Rich.

Clifford Chance advises on many landmark transactions in the Latin American market, including IDB Invest's recent US$1.8 billion A/B tariff stabilization purchase facility and securitization of MPC Securities.