BLP instructs Proparco on $35m Ficohsa loan

BLP Honduras has advised Societé de Promotion et de Participation pour la Coopération Économique (Proparco), the private sector financing arm of France’s development agency Groupe Agence Française de Développement (AFD), on a $35 million loan to Banco Financiera Comercial Hondureña (Ficohsa).

Proparco contributes to development by providing financing and support for projects led by companies and financial institutions in developing and emerging countries.

Ficohsa is the largest financial institition in Honduras by assets, and has a 20-per cent market share of the country’s banking sector.

BLP’s tasks included the revision of the loan contract to identify possible conflicts with local legislation and to ensure that the loan complied with the requirements of Honduran law.

BLP also reviewed all documentation to verify that the loan terms met the conditions precedent to the granting of the loan and that the loan was in compliance with the statutes and court decisions within the jurisdiction.

The firm’s team was led by partner José Miguel Álvarez and included associate Nadia Arriaga Álvarez.