Carey acts in $200m financing to BICE by IFC
Carey has advised the International Finance Corporation (IFC), as lender, in a financing of up to US$200 million granted to Banco BICE.
The financing will be used to fund lending with a focus on housing loans for women.
This transaction closed on August 27 and involved the Chilean and US (New York) jurisdictions, where Becker Glynn acted as advisor to IFC in the US.
According to data published by the Financial Market Commission, there is a gender gap in access to housing loans in Chile, where only 41% of all mortgage loans are granted to women. The financing granted by IFC will enable Banco BICE to expand its mortgage loan portfolio, with special attention to this group, helping to improve their access to housing finance opportunities.
José Pedro Ruiz Larraín acted as in-house counsel to Banco BICE.
Becker Glynn’s team was represented by partner Patrick O’Brien.
Carey’s team was led by partners Fernando Noriega (pictured left) and Manuel José Garcés (pictured right), with the support of associates Diego Lasagna, Alejandro Toro and Francisco Jiménez.
