In early January 2018, Credit Suisse entered into and disbursed a $96,875,143.00 loan to the Republic of El Salvador. The transaction proceeds were used to complete the country’s financing for fiscal year 2017. The Salvadoran team included officials from the Ministry of Finance, the Central Bank and the Office of the Attorney General, including Attorney General Douglas Arquímides Meléndez Ruíz. Arnold & Porter represented its long-time client the Republic of El Salvador, and Skadden represented Credit Suisse.
Partner Whitney Debevoise led the Arnold & Porter team advising the borrower. He was assisted by partner Neil Goodman, associate (now counsel) Carlos Pelaez, associate Mateo Morris and tax associate Joel Deuth. The Skadden team included Jurgen Spihlman and Alejandro Gonzalez Lanuzzi. Consortium Legal (Oscar Samour and Felipe Aragon) represented Credit Suisse on questions of Salvadoran law.