Clifford Chance Advises IFC on Innovative $509.53 Million Loan Securitization for Emerging Markets

"Clifford Chance has advised the International Finance Corporation (IFC) on its inaugural loan securitization program for emerging markets, resulting in the issuance of $509.53 million in secured notes and preferred shares due in 2035. This initiative aims to attract institutional private capital to emerging markets, creating a new asset class for investment. The advisory team was led by partners Gareth Old and Rebecca O'Brien, supported by a diverse international group of legal professionals."

Clifford Chance, a global law firm, participated in the transaction by advising the International Finance Corporation (IFC), the private sector arm of the World Bank Group, as servicer and participation seller in a significant financial deal. The transaction involved the securitization of IFC-originated loans to emerging market obligors, resulting in the issuance of secured notes and preferred shares totaling US$509.53 million in aggregate principal amount, due in 2035. This marks IFC's inaugural transaction under its new Emerging Markets Securitization Program, aimed at attracting institutional private capital into emerging markets. The legal team from Clifford Chance included partners Gareth Old and Rebecca O'Brien, who led the international team. Other team members included Faizal Khan, Tim Cleary, and Matthew Dunn in London; Radoslav Lolov in Frankfurt; and Stuart Stahl, Martin Clarke, Sarah Holm, Peggy Li, Sarah Basilion, and Wyncent Halim in New York. Additionally, partner James Gouwar, along with associates Michaela Morr and Maggie Shi, provided support on tax matters, while partner Paul Koppel and associates Thomas Koh and Ivona Dimov handled ERISA matters.

Clifford Chance Advises IFC on Innovative $509.53 Million Loan Securitization for Emerging Markets

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