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Banco Industrial Raises $195 Million in Guatemala

June 15, 2022

Mayora & Mayora, S.C. in Guatemala advised Banco Industrial, S.A. on an issuance from its diversified payments rights (DPR) securitisation program.

The $195 million Series 2022-1 fixed rate notes were issued by Industrial DPR Funding, the program’s special purpose company issuer. Wells Fargo acted as the placement agent, Intertrust as the SPC administrator, The Bank of New York Mellon as the trustee, and Fitch Ratings as the rating agency.

Mayora & Mayora advised Banco Industrial, S.A. with a team including partners Claudia Pereira, on the Banking and Finance aspects, and Eduardo Mayora A. on the tax aspects. Hogan Lovells acted as counsel to Banco Industrial, S.A. for the U.S. Advising the placement agent were Mayer Brown in the U.S. and Consortium Legal in Guatemala. Walkers Global was the counsel in the Cayman Islands and Emmet Marvin & Martin was the counsel to the trustee.