Sergio Barboza and Nelly Espinoza

DLA Piper assists IDB Invest in $15m financing to Cordada

DLA Piper Peru has assisted IDB Invest in providing a $15 million USD financing to Cordada in a two-year renewable term agreement that seeks to strengthen financing operations in Chile, Peru and Mexico originated by local non-bank financial intermediaries (NBFIs).

The transaction was completed on 26 September and signed on 12 October. The firms Hogan Lovells and Alessandri also advised IDB Invest in Mexico and Chile, respectively, while Barros Silva Barela & Vigil and Estudio Muñiz advised Cordada in Chile and Peru, respectively.

This agreement is expected to contribute to two UN Sustainable Development Goals (SDGs): Decent Work and Economic Growth (SDG 8) and Industry, Innovation and Infrastructure (SDG 9).

Cordada, based in Santiago de Chile, provides financial solutions to SME lenders. It specialises in financing Fintech and non-bank finance companies in Latin America.

Laura Roldán and Andrés Ducassou acted as in-house counsel for IDB Invest and Cordada, respectively.

Hogan Lovells’ team included Ricardo Martinez and Mauricio Fuchs.

Alessandri’s team comprised Fernando Jamarne, José Antonio Cuadra and Hans Kokott.

Barros Silva Barela & Vigil’s team was led by Sebastian Barros.

Estudio Muñiz was represented by Victor Lazo.

DLA Piper’s team consisted of partner Sergio Barboza (pictured left) and senior associate Nelly Espinoza (pictured right).

L Giselle Estrada