Cleary and Gross Brown advise on FriCon’s $80m senior credit agreement
Cleary Gottlieb has advised Frigorifico Concepcion (FriCon), in an $80m senior secured credit agreement arranged by BofA Securities, as Sole Lead Arranger. Gross Brown advised Bank of America Securities, as structurer, and Bank of America as lender.
FriCon used the proceeds of the term loan, which closed on 21 December 2023, for general corporate purposes to increase FriCon Group’s production by up to 20%.
FriCon is one of Paraguay’s leading beef processing companies, with a presence in Brazil, the United States, Bolivia and Chile. Its main activities are slaughtering, deboning, processing, marketing and distribution of chilled and frozen beef products and by-products.
Cleary’s team included partner Adam Brenneman (pictured left), international lawyer Lucia De Miceu, and law clerk Mauricio Nieto. Counsel Matthew Brigham and associates Jesse Hong and Joseph Roy provided tax advice. Senior attorney Victor Chiu provided UCC advice. Partner Michael Mazzuchi and associate Ben Rosenblum provided advice on matters relating to the Investment Company Act. Counsel Patrick Fuller provided anti-money laundering advice. Senior attorney James Corsiglia provided advice on matters relating to anti-corruption provisions. Partner Elizabeth Dyer provided ERISA advice. All lawyers are based in New York, except Michael Mazzuchi, Ben Rosenblum, and Patrick Fuller who are based in Washington, and Joseph Roy who is based in San Francisco.
GrossBrown’s team was led by partner Sigfrido Gross Brown (pictured right), with associates Pablo Debuchy and Kamila Giménez.
