NEW YORK, 27 January 2017 – Hogan Lovells has advised BNP Paribas Securities Corp. as the placement agent and a group of accredited investors based in the United States in establishing a new diversified payment rights securitization program (DPR) originated by Banco Davivienda (Costa Rica), S.A. DPR-CR Limited, a special purpose vehicle organized in the Cayman Islands, issued US$150 million of series 2017-1 and series 2017-2 notes.

The transaction closed on January 18, 2017.

The Hogan Lovells team included New York partners Emil Arca, Oscar Stephens, Russell Slanover, and associate Rebecca Francus.

The firm also represented Banco Davivienda in El Salvador in a similar US$175 million transaction in 2015.