Colombian printing and packaging company Carvajal has secured a US$200 million syndicated loan on behalf of several of its companies.

The five-year loans are denominated in both Colombian pesos and US dollars, with US$130 million in dollars and the remainder - 121 million Colombian pesos – in local currency.

Partner Mariana Posse of Posse, Herrera & Ruiz Abogados, Colombian counsel to the lenders, says: “it was a challenging transaction because it involved five jurisdictions and companies located in four different countries.”

The jurisdictions involved are the US, Mexico, Panama and Colombia and Brazil. The loan will fund Carvajal’s expansion in the region, where it has made a number of acquisitions in the last couple of years. 

European bank ABN Amro acted as lead arranger for the US dollar leg and Banco Davivienda acted as arranger for the peso leg.

The family-owned group of companies Grupo Carvajal’s businesses include packaging, telecommunications, outsourcing, publishing, technology, and industrial engineering businesses.  The group consists of 15 different companies and has divisions in China, Spain and the US.

Counsel to the banks

US

Skadden, Arps, Slate, Meagher & Flom LLP

Partner Alejandro Radzyminski and associate Alejandro González


Colombia

Posse, Herrera & Ruiz Abogados

Partner Mariana Posse and associates Natalia Escobar and Nicolás Feged


Panama

Alemán, Cordero, Galindo & Lee

Partner Arturo Gerbaud and associate Eloy Alfaro.


Mexico

Galicia y Robles SC

Partner Manuel Galicia and associate Daniel Perez.


Brazil

Machado, Meyer, Sendacz e Opice Advogados

Partner Carlos José Rolim de Mello and associates Roger Boing and Felipe Gruber


Counsel to Carvajal

In-house counsel- Luis Antonio Botero.


US

White & Case LLP

Partner Howard Kleinman and associate George Yannopoulos.



Colombia

Brigard & Urrutia Abogados

Partner Carlos Urrutia and associates Carolina Arciniegas, Cristina Madero and Felipe Alarcón


Panama

Icaza, González-Ruiz & Alemán

Partner Gabriel González and associate Luis Chalhoub


Mexico

García Pérez Abogados

Partner Marcela García


Brazil

Souza, Cescon Avedissian, Barrieu e Flesch Advogados

Partner Gyedre Palma Carneiro de Oliveira and associate Mariana Borges

(Latin Lawyer 14.07.2008)