Morgan & Morgan Advises Wells Fargo in a USD $100 Million Securitization and Acquisition of DPRs
December, 2012 - Panama, Panama
Morgan & Morgan advised Wells Fargo Bank, National Association (Wells Fargo), in their role as investor in a new diversified payment rights program, comprising of the securitization of future funds flows as represented by payment orders (called Diversified Payment Rights or DPRs) for the amount of USD $100 million, to be established by Banco General, S.A. in the Republic of Panama.
In addition, Morgan & Morgan advised Wells Fargo, as lender, in a loan agreement granted to BANCO GENERAL DPR FUNDING, LTD., in order to complete the acquisition of the DPRs.
The Morgan & Morgan team advising Wells Fargo was comprised by partner Ramon Varela and associates Roberto Vidal and Ricardo Arias.
