US telecoms group gets IDB Invest loan for LatAm operations

US telecoms group gets IDB Invest loan for LatAm operations

Puerto Rico-based QMC Telecom has hired Philippi Prietocarrizosa Ferrero DU & Uría (Colombia) to obtain a US$45 million credit line from IDB Invest to finance its operations in Colombia, Mexico and Peru.

The lender relied on Morrison & Foerster LLP in Washington, DC and DLA Piper Martínez Beltrán in Bogotá.

Latin Lawyer understands that US firm Locke Lord LLP also advised QMC, but this could not be confirmed before publication.

The loan was disbursed on 16 August.

QMC will use the 10-year loan to expand its portfolio of telecoms towers and distributed antenna systems in Colombia, Mexico and Peru. The Puerto Rican company is also preparing for the implementation of a 5G network in these jurisdictions.

Founded in 2018, QMC operates in Brazil, Colombia, Mexico, Peru and the US. It owns and operates a network of wireless infrastructure across those jurisdictions.

IDB Invest regularly injects funds into Latin America. The investor recently granted a US$50 million credit line to Chilean private equity group Volcom Capital, which followed a US$300 million loan to the Peruvian subsidiary of French utility company Engie for the development of a wind farm. Prior to that, it provided a US$15 million financing to Paraguayan agribusiness Automotores y Maquinaria.

Counsel to QMC Telecom

In-house counsel – Ana Maria Torres

Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)

Partner Hernando Padilla and associates Daniela Mejía and Jorge Portocarrero in Bogotá

Counsel to IDB Invest

Morrison & Foerster LLP

Partner Ann Lilienthal and associates Christopher Pearson and Jose Enriquez in Washington, DC

DLA Piper Martínez Beltrán

Partner Sebatián Lora and associate Carlos Guzmán in Bogotá