NEW YORK, 7 July 2016 – Hogan Lovells has advised Central American investment group Grupo Terra in the financing for the acquisition of Banco Citibank de El Salvador. Immediately after acquisition, the bank changed its name to Banco Cuscatlán, its former name.

The US$50 million unsecured bridge loan financing was provided by Credit Suisse and was guaranteed by some of Grupo Terra’s operating companies.

Grupo Terra, based in Honduras, is a Central American conglomerate that operates mainly in the power generation, fuel supply, real estate and infrastructure industries.

The Hogan Lovells team included New York partners Emil Arca and Oscar Stephens, and visiting international lawyer Conrado de Castro Stievani.