Flor Bustamante Pizarro & Hurtado Advises IDB Invest on $68M Loan for Guayaquil Hospital
Flor Bustamante Pizarro & Hurtado acted as local counsel advising IDB Invest on the closing of a US$68 million secured loan facility with Millenium-Med Hosp SAS, the company responsible for developing the largest and most modern private hospital in Guayaquil, Ecuador.
The financing will support the construction of the Millennium-Med Hospital, with US$40 million provided through an A Loan facility by IDB Invest and an additional US$28 million through a B Loan facility issued by CIFI Latam.
For this transaction, Ecuador-based Flor Bustamante Pizarro & Hurtado provided local legal counsel to the lender. Holland & Knight advised on international law matters for the lender, while A&O Shearman acted as international legal counsel for the borrower and sponsor.
Flor Bustamante Pizarro & Hurtado’s team was led by senior partner Mario Flor ( pictured left) and partner Alejandro Perez (pictured right). Holland & Knight’s was led by partners Norberto Quintana and Juliana Saa, along with senior associate Jorge Ballen.
