Mateo Mendoza

Mendoza represents Barranquilla at credit closing

Mendoza Abogados has represented the Special, Industrial and Port District of Barranquilla in a long-term loan closing granted by Deutsche Bank AG for the purpose of repaying a short-term transitional credit facility entered into in 2021 and to finance infrastructure projects.

This transaction, closed on 14 September, was governed under New York law, and marked the first time that the SOFR rate is regulated for sub-sovereign credits, setting an important precedent for other Colombian state entities, as it was negotiated with the Ministry of Finance and Public Credit.

The consultancy involved adapting a credit agreement under New York law considering the local public credit regulation, as even any changes to the credit including Conforming Changes must be approved by the Ministry of Finance and Public Credit (i.e. Law 781 of 2002), as well as the negotiation of an agreement that considered the requirements of the Ministry, the Administrative Agent and the Creditors.

Mendoza’s team consisted of partner Mateo Mendoza (pictured), director Maria Lucia Amador and associate Maria Esther Eljach.

L Giselle Estrada

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