Latham & Watkins advised Newmarket Capital on the securitization transaction named ESG Deal of the Year in Structured Credit Investor’s 2025 Risk Sharing Awards.
The transaction marks the first significant risk transfer by the Inter-American Development Bank (IADB), a multilateral development bank serving as the main source of development financing for Latin America and the Caribbean. As part of the transaction, called Scaling4Impact, a US$1 billion portfolio of IADB Invest, the IADB’s private sector arm, was securitized, consisting of a tranched structure with an US$870 million senior tranche, a US$100 million mezzanine tranche, a portion of which was sold to international investor Newmarket Capital and the remainder insured by two insurers, and a US$30 million junior tranche retained by IDB Invest.
The deal team was led by Paris corporate partner Suzana Sava-Montanari, with London partner Roberto Reyes Gaskin, Paris associate Jaime Hall, and London associate Alexia Leckie.
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