Clifford Chance assists in agreement between Credivalores and GDA Luma

Clifford Chance has assisted Credivalores-Crediservicios (Credivalores) in connection with a capitalisation transaction involving private equity fund GDA Luma, which included the negotiation and execution of (i) an exchange agreement, pursuant to which Credivalores issued new shares to GDA Luma in exchange for a portion of Credivalores’ 8.875% Senior Notes due 2025 held by GDA Luma that were subsequently cancelled, and (ii) an amendment to the company’s shareholders’ agreement.

Thanks to this investment, GDA Luma will become Credivalores’ strategic partner, enabling it to strengthen its position as a consumer credit originator in Colombia.

Credivalores is a non-bank financial institution in Colombia for payroll and consumer loans, serving mainly the lower and middle income class of the country’s population.

Clifford Chance’s team comprised partner Hugo Triaca (pictured), associates Alan Sakar Azuara and Mark Sheehy, foreign law clerk Adriana Cabal Gutierrez and law clerk Maria Fernanda Gadea Rivera.