IIC and Mizuho Corporate Bank, Ltd. sign loan agreement
12/07/2010With this transaction both institutions will promote SME development in Latin America and the Caribbean
Washington, D.C. – In a ceremony held on December 7, 2010, the Inter-American Investment Corporation (IIC) signed a US$60 million loan agreement with Mizuho Corporate Bank, Ltd. (Mizuho).
According to Juan Eduardo Zuluaga, IIC’s Finance and Risk Management Division Chief, "Over the past few years Mizuho has become one of the IIC’s strategic partners by facilitating access to the syndicated credit market in Japan. Mizuho’s syndication team did an outstanding job throughout the operation. The proceeds of the loan will be used to finance SMEs in the region."
According to Shinya Wako, Managing Executive Officer and Head of the Americas for Mizuho, "We are very pleased to have assisted the IIC in accessing the global syndicated loan market and help it to further diversify its funding sources in Asia. This transaction reflects our ability to provide clients with access to a broad investor base through Mizuho’s extensive international network, as well as our commitment to deepening financial ties between Latin America and Asia."
The signing ceremony took place at the IIC headquarters in Washington, D.C. Akihiro Hashimoto, Executive Officer and General Manager for the Americas Financial Products Division, signed for Mizuho; Jacques Rogozinski, General Manager, signed for the IIC.About Mizuho Corporate Bank, Ltd.
Mizuho Corporate Bank, Ltd. provides financial and strategic solutions for the increasingly diverse and sophisticated needs of clients, focusing its efforts on serving major corporations, financial institutions, and public sector entities. A relationship management approach to serving clients enables Mizuho Corporate Bank, Ltd., together with affiliates such as Mizuho Securities Co. Ltd., to develop customized solutions in areas such as corporate, structured and project finance, investment banking, transaction banking and risk management. With offices in more than 28 countries, Mizuho Corporate Bank, Ltd. offers clients both localized service and the extensive reach of a global business network. Mizuho Corporate Bank, Ltd. is a subsidiary of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG), one of the largest financial services companies in the world, with total assets of over US$1.8 trillion as of September 30, 2010.About the IIC
The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2009, the IIC reached US$1.4 billion in assets and approved 40 operations channeling US$299.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int
Contact: Juan Eduardo Zuluaga
Telephone: (202) 623-3812