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Thursday, May 23, 2024

Clifford advises on financing to largest global CRM/BPO provider in Latin America

Clifford Chance has advised IDB Invest in connection with the US$50 million working capital facility provided to Spain´s Atento

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Atento is the largest provider of customer relationship management (CRM) and business process outsourcing (BPO) in Latin America and the Caribbean, with operations in Argentina, Brazil, Chile, Colombia, El Salvador, Costa Rica, Guatemala, Mexico, Panama, Peru and Uruguay.

Atento will use the proceeds of the financing to support its capital expenditure and working capital needs to grow its CRM and BPO operations. The deal is expected to improve digitalization in Latin America and the Caribbean and reduce the need for import of digital services, promoting nearshoring and service export across the region.

Lead partner Kate McCarthy commented, “We are pleased to bring together an international team to support our longtime client IDB Invest on its first ever financing in the CRM/BPO industry. The team is proud to support on a transaction that aims to close the digitalization gap in Latin America and the Caribbean.”

Working with McCarthy was a multijurisdictional team including Washington, DC partner  Jessica Springsteen and associate Mari Correa, New York associate Julian Hurtado Vallejo and Luxembourg: avocat à la Cour Sadan Ramovic.

Clifford Chance Madrid office advised with a team formed by Banking & Finance partner José Guardo and lawyer Juan Puras.

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