The International Finance Corporation (IFC), an entity of the World Bank, whose purpose is to finance private companies in emerging markets, granted a loan of USD 25 million to the Paraguayan agricultural services company Agrotec SA, a subsidiary of the Agrihold Group, for the purpose of finance agricultural producers.
Nicholson y Cano Abogados represented the IFC in Argentina, together with FERRERE in Paraguay; Higgs & Johnson in Nassau and internal lawyers of the institution. Azevedo Sette Advogados advised the financial institution in Brazil.
For its part, Palacios, Prono and Talavera Abogados advised Agrotec in Paraguay.
According to Nicholson and Cano Abogados, this credit operation consists of a long-term, non-renewable line, for an amount of up to USD 5 million and an additional one-year line and an amount of up to USD 20 million, renewable annually for up to four years.
The Argentine law firm explained:
"Agrotec SA is one of the leading companies in the agricultural services sector in Paraguay and a member of the Agrihold Group. It offers agrochemicals, fertilizers, seeds, technical assistance, storage services and logistics. It provides financing to farmers and cooperatives in Paraguay, as well as the marketing of its customers grains. The loan funds will be used to grant financing for working capital and loans to farmers "
Azevedo Sette, for his part, said: "Our work included the revision of the Guarantee Agreement and the issuance of Legal Opinion for the transaction."
The parent company of Agrotec, Agrihold is a holding company formed by companies that operate in the field of agribusiness. The Paraguayan organization also operates in Uruguay, Brazil and China.
This transaction was guaranteed by the Brazilian company Alta - América Latina Tecnologia Agrícola Ltda.
Legal Advisors
Advisors of International Finance Corporation (IFC):
Lawyer in-house: Solange Marie Martin.
Nicholson and Cano Abogados (Buenos Aires): Partner Mariano Fabrizio. Associates Gonzalo Rivas Orozco and Dolores Reyes.
FERRERE (Asunción): Partner Carlos L. Codas. Associates Juan Da Silva and Manfred Heyn.
Higgs & Johnson (Nassau): Partner Michael FL Allen. Associate Khiry P. Adderley.
Azevedo Sette Advogados: Partner Ana Paula Terra. Associate Liliane Campos.
Asesores de Agrotec SA:
Palacios, Prono and Talavera Abogados (Asunción): Partner Carlos Palacios Cañellas. Associate Raúl Prono Zelaya.