Clifford Chance advises International Finance Corporation on emerging markets loan securitization program

October 13, 2025

• Gareth Old, Rebecca O'Brien (She/Her), Faizal Khan, Timothy Cleary, Matt Dunn, Radoslav Lolov, Stuart Z. Stahl, Sarah Holm (She/Her), Peggy Li, Sarah Basilion (She/Her), James Gouwar, Michaela Morr (She/Her), Maggie Shi, Paul Koppel, Thomas Koh (He/Him), Ivona Dimov
• New York

Clifford Chance advises International Finance Corporation on emerging markets loan securitization program

Global law firm Clifford Chance has advised the International Finance Corporation (IFC), the private sector arm of the World Bank Group, as servicer and participation seller in the securitization of IFC-originated loans to emerging market obligors into US$509.53 million aggregate principal amount of secured notes and preferred shares due 2035. This marks IFC's inaugural transaction under its new emerging markets securitization program and the launch of a new method to attract institutional private capital into emerging markets.

Partner Gareth Old said, "We are proud to offer our experience and insight to IFC with the establishment of this innovative program. The program will help create a new asset class for institutional capital to invest in emerging markets."

Old and partner Rebecca O'Brien led an international team, including Faizal Khan, Tim Cleary and Matthew Dunn in London, Radoslav Lolov in Frankfurt and Stuart Stahl, Martin Clarke, Sarah Holm, Peggy Li, Sarah Basilion and Wyncent Halim in New York. They were supported by partner James Gouwar, associates Michaela Morr and Maggie Shi on tax matters and partner Paul Koppel and associates Thomas Koh and Ivona Dimov on ERISA matters.