Buenos Aires, August 3rd, 2021. On April 9th, 2021, World Bank’s International Finance Corporation (IFC) and the Pantaleon Group’s Nicaraguan subsidiary, Monte Rosa S.A., signed an agreement by means of which IFC granted the company a US$15 million revolving credit facility – renewable yearly for up to 4 years– and a US$10 million long-term A-Loan. In this matter, Beccar Varela acted as inter-jurisdictional counsel to IFC, while Arias advised the same organization at the local level.
Monte Rosa, S.A. is a sugar and energy producer located in Nicaragua’s Pacific Northwest, with the capacity to process 16,000 tons of sugar cane per day. The proceeds of the short-term revolving credit facility will support the Company’s working capital needs, while the long-term investment will fund the purchase of machinery (tractors, seeding, and harvesting equipment) to assist Monte Rosa Sugar Mill in enhancing the efficiency of its operations.
Counsel to International Finance Corporation (IFC)
IFC in-house counsel: Paola Morales.
Inter-jurisdictional counsel | Beccar Varela: team led by partners Pablo J. Torretta and Carolina Serra.
Nicaragua | Arias: team led by partner Bertha Arguello assisted by the associate Paola Margarita Gutiérrez.
Counsel to Grupo Monte Rosa
The Pantaleon Group in-house counsel: Rennatto Tible.
Nicaragua | EDZ Consultores: team led by partner Soledad Zeledón and associate Zayda Delgadillo.
USA (New York) | Goicolea Consulting: Andrés Goicolea.