Mayer Brown represents investors in $996 million DPR securitization

Mayer Brown represented a group of private placement investors in a $996 million offering of notes secured by existing and future Dollar-denominated diversified payment rights (DPRs) originated by Banco Industrial S.A., the largest bank in Guatemala.  

The transaction structure mitigates sovereign risk by collecting cash flows offshore until investors are paid off, which permits the transaction to be rated higher than Guatemala's country ceiling. The offering is believed to be the largest DPR transaction by an originator in Central America and the Caribbean. 

The team included Banking & Finance partner Doug Doetsch, counsel Dan Whitmore, and associates Regina Fajardo and Maria Parga in the firm’s Chicago and New York offices.

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