Credicorp Capital grants COP 50 billion in financing for Finsocial

Cuatrecasas has advised Credicorp Capital on financing granted through a private equity fund—Fondo de Capital Privado Credicorp Capital Deuda Privada I—for a Finsocial trust to acquire consumer and payroll deduction loans. This transaction will enable the company to increase its capacity to serve the payroll deduction loan market and continue to position itself as one of the main leaders in the industry.

Totaling COP 50 billion, the transaction represents a milestone in the consolidation of FCP Credicorp Capital Deuda Privada I as an alternative on the private debt market. The context is one in which local-currency debt funds continue to position themselves as a new long-term financing option for companies that want to grow in times such as these.

Our partner Juan Carlos Puentes, who led this transaction, highlighted: “Finsocial’s recent financial closure with FPC Credicorp Capital Deuda Privada I is a significant transaction from the company’s fund diversification perspective and is a positive signal from the financial markets toward the payroll deduction loan sector in Colombia.”

Also participating in the Cuatrecasas advisory team were lawyers Catalina Herrera, Felipe Londoño, Andrés Herrera, Natalia Serrano and Ana Katrin García from our Bogotá office.