Mizuho Corporate Bank, Ltd. Arranges A US$70 Million Syndicated Loan To The Inter-American Investment Corporation
10/09/2008With this transaction, Mizuho Corporate Bank, Ltd. and the IIC will promote SME development in Latin America and the Caribbean
Washington, D.C.- In a ceremony held on October 10, 2008, the Inter-American Investment Corporation (IIC) signed a US$70 million Ninja loan, syndicated in Japan, with Mizuho Corporate Bank, Ltd. ("Mizuho") New York Branch. The loan agreement became effective on September 17, 2008.
Mizuho Corporate Bank, Ltd., the arranger of the loan, is the market leader in syndicated loans in Japan. It is a subsidiary of Mizuho Financial Group, Inc., one of the largest financial services companies in the world, headquartered in Japan, with total assets of more than US$1.5 trillion as of March 31, 2008. The IIC and Mizuho have been close business partners for years. This is the second time in 2008 that Mizuho has arranged a syndicated loan for the IIC.
"We are proud to lead the expansion of Ninja loan financing originating in Japan for Latin American entities," said Mitsuhiro Nagahama, Managing Executive Officer and Head of the Americas for Mizuho Corporate Bank, Ltd. "Providing the IIC with a second Ninja loan—with its increased size, longer tenor, and new investors—furthers our long-term relationship with a key client and embodies our commitment to offering clients cutting-edge financial solutions, transaction after transaction."
Ricardo Rico, Funding and Syndication Officer at the IIC, added, "We are very pleased with this second Ninja loan arranged by Mizuho this year, because it raises our profile among Japanese investors. In addition, the fact that this transaction has been closed under difficult market conditions worldwide shows that Mizuho has an impressive capacity as an arranger and that Japanese investors recognize the IIC’s creditworthiness."
Mizuho Corporate Bank, Ltd. provides financial and strategic solutions for an increasingly diverse market and increasingly sophisticated clients. It focuses on serving major corporations, financial institutions, and public sector entities. A relationship management approach to serving clients enables Mizuho Corporate Bank, Ltd., and its affiliates, including Mizuho Securities, 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 twenty-seven countries, Mizuho Corporate Bank, Ltd. offers clients both localized service and the extensive reach of a global business network.
The Inter-American Investment Corporation is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. It provides 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 2007, the IIC reached US$1.2 billion in assets and approved 62 transactions channeling US$470 million to SMEs in the region. 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. For more information on the IIC’s activities, please visit www.iic.int.
Contact: Ricardo Rico/Juan Eduardo Zuluaga
Telephone: (202) 623-1337