Colombian trust TuCrédito Sindicado agrees refinancing with local banks

05/05/2020

Patrimonio Autónomo TuCrédito Sindicado, managed by Fiduciaria Bancolombia, closed the refinancing of a loan with Colombian banks for US$55.5 million (COP$220 million Colombian pesos as of May 5) and obtained an extension for US$22.7 million (COP$90 million pesos as of May 5). In total, the trust has financing of US$78.2 million (COP$310 million).

The transaction was signed on April 24. In-house counsel assisted the borrower and Credivalores Crediservicios, the latter as sponsor.

Mendoza Abogados represented Bancolombia, Banco de Bogotá, Banco de Occidente, Banco Santander and Banco Multibank, as lenders, in the structuring and closing of the refinancing. Additionally, the lenders received advice from their respective in-house legal teams.

Source: LexLatin

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