July 1, 2015 – MIAMI – Alvarez Arrieta & Diaz-Silveira LLP (AADS), a Miami-based corporate boutique law firm specializing in international and domestic mergers & acquisitions, finance, real estate, immigration and private wealth services, announced a successful $50 million financing package for Bayport Colombia, a leading international financial services firm. The $50 million was secured through Inter-American Development Bank (IDB), and AADS provided U.S. legal representation for Bayport Colombia.
AADS founding partner Pedro “Tony” Alvarez and associate Colleen Grady worked with Bayport Colombia on the deal. Bayport Colombia will utilize the funds to finance micro-loans for public-sector employees and pensioners in Colombia, which will then be repaid through payroll deduction. The $50 million loan was the first of its kind from IDB, who has not been involved with this industry before.
“Bayport Colombia is serving a real need in Colombia where credit is not always easily available to lower-class citizens,” Grady said. “With the help of IDB, Bayport will be able to raise the standard of living for many working people.” Approximately 110,000 families are expected to benefit over the life of the IDB loan.
Bayport Colombia is a subsidiary of Bayport Management Ltd. (BML), which specializes in providing loans to low-income government workers in developing countries. BML has a presence in seven African nations as well as in Mexico and Colombia. The company currently owns $1.2 billion U.S. in assets.