BLP

A free transfer is when the donor (transferor) bestows a benefit or right without being paid, even though the transfer may be subject to the fulfillment of certain conditions, such as an inheritance, donation, or prize. The taxpayer in this type of conveyance is the party who accepts the benefit or right (transferee) since they receive an income. A donation deductible under article 39 of the Tax Agreement Law is exempt since it receives a different tax treatment. Our focus here is solely on transfers considered capital gains for the recipient...

The Ministry of Public Health and Social Assistance recently published Ministerial Agreement 144-2020 that contains the national strategy for controlling the epidemic COVID-19 and confinement conditions. This is to complement the presidential provisions dated May 31, 2020 that were published on June 1, 2020 and which ratify the validity of the provisions of May 14 with some adjustments to them: Curfew of 18:00 ( AM) at 5:00 pm (PM), change of hours for supermarkets, banks, markets, authorization of commercial activities and services in individual premises that are not in shopping centers, among others...

BLP has advised IDB Invest on the grant of a loan of up to $115,000,000 to Banco Davivienda (Costa Rica) S.A. financed by IDB Invest and several external lenders. The loan will be used to expand Davivienda’s portfolio of green products and favor the reduction of greenhouse gas emissions through support and financing of the environmental and social agenda of banks in Costa Rica to enable the offering of customized green financial resources...

BLP has advised EVERTEC, Inc. (EVERTEC, or the Company) in Costa Rica and Guatemala on the refinancing of its existing credit facilities; the new credit lines consist of $200 million of extended revolving credit and a $415 million term loan A, both maturing on December 1, 2027. The new term loan and a $50 million disbursement from the revolving credit funded the repayment of the Company’s existing Term Loan A and Term Loan B in full. Truist Securities, Inc. acted as joint lead arranger, administrative agent, and collateral agent for the transaction, with Banco Popular de Puerto Rico and Citizens Bank, N.A...