Leading global law firm Baker & McKenzie announced today that the New York office represented IDC Overseas Ltd., as issuer, in connection with an offer to exchange its outstanding 9.0% Notes due 2026 for an equal amount of its new 9.0% Notes due 2030 under its Euro Medium-Term Note Program. The offer included a consent to increase the size of the program from USD 150 million to USD 200 million BCP Securities acted as dealer manager for the exchange offer.
IDC is one of the leading money management firms in Central America with operations in the US, Europe and other jurisdictions. This liability management transaction helps to better align the debt maturity profile of the company. Holders of 96% of the aggregate USD 150 million principal amount of the 2026 Notes elected to participate in the exchange offer.
Baker & McKenzie lawyers were involved in setting up IDC’s Medium-Term Note Program in 2023 and several take-downs of notes under the Program.
Transactional Practice Group partners Mike Fitzgerald, Arturo Carrillo and Steven Sandretto led the Baker McKenzie team, which also included associate Alejandra Cuadra.
