TozziniFreire and Lefosse advise on IFC financing for Cogna
TozziniFreire Advogados advised International Finance Corporation – IFC, as the lender, on the financing Cogna Educação (COGNA), as the borrower, for the raising of funds amounting to USD 100 million.
The resources will be allocated to investments in technology in the borrower’s higher education segment during the period of up to 3 years following the date of the agreement, which segment is comprised of those school grades that are above the 12th grade.
The resources will be used in accordance with an action plan developed by the borrower, which sets out specific environmental and social measures to be undertaken by Cogna and its subsidiaries, to enable their respective operations to comply with IFC’s Performance Standards on Environmental & Social Sustainability.
Cogna relied on Editora e Distribuidora Educacional and Pitagoras Sistema de Educação Superior Sociedade as guarantors, who have agreed to unconditionally and irrevocably guarantee the obligations of the borrower under the loan agreement and the other IFC financing documents.
TozziniFreire assisted IFC, particularly on Brazilian legal and regulatory aspects and relied on partner Alexei Bonamin (pictured left) and associate Daiane Nunes.
Becker, Glynn, Muffly, Chassin & Hosinski also advised the same partie (US Law) and relied on Andrea Marquez-Bottome, Patrick J O’Brien.
Lefosse advised Cogna Educação and relied on Bruno Massis (pictured right), Carla Rossi, Fernanda Barros and Roberta Rossi.
