Allen & Overy advised Société Générale on the International Finance Corporation's (IFC) first investment under its $1 billion Critical Commodities Finance Program, announced on 1st March 2012.
The Critical Commodities Finance Program was launched by the IFC to support trade in food and energy with developing countries and is designed to reduce the risk of food and energy shortages, improve food security for the world's poorest who tend to be hit hardest by rising food and energy prices.
Under this new program, the IFC sub-participated Société Générale in a revolving portfolio of trade and commodities receivables for an amount of $250 million.
Allen & Overy Paris, acting as Société Générale's counsel, structured the transaction and drafted the legal documentation.
The Allen & Overy team was led by Paris-based partners Fabrice Faure-Dauphin and Rod Cork, who were assisted by senior associate Samy Benhalima and associate Antoine Trillat. Tax advice was provided by partner Mathieu Vignon assisted by associate Viviane Carpentier.
The Société Générale team was led by Jérôme Jacques, Deputy Global Head of Natural Resources and Energy Financing and on the legal side the team was led by Mathias Trebuchet, Deputy Head of Legal, Financial Engineering.
Hogan Lovells advised IFC, the team was led by London-based partner David Leggott as a matter of English law and by Paris-based partner Baptiste Gelpi as a matter of French law.