Autopista del Norte’s $350 Million Syndicated Loan

Baker McKenzie, Estudio Echecopar (Baker McKenzie), Garrigues, Clifford Chance and Sumara Hub Legal advised on the transaction

The Peruvian Red Vial No 4 toll road project, a 25-year concession valued at USD 454 million, will decrease the journey time between Lima, Peru’s capital city, and Trujillo, in north-western Peru, by three hours.

A group of banks and financial institutions, including Sumitomo Mitsui Banking Corporation (SMBC), Credicorp Capital Servicios Financieros, Banco de Crédito del Perú, Banco Santander, Itaú Corpbanca New York Branch, Inter-American Investment Corporation, Crédit Agricole Corporate and Investment Bank and ING Bank’s Dublin arm, are providing the USD 350 million secured financing.

The financing has been arranged for the benefit of a subsidiary of transportation and infrastructure company Aleatica, Autopista del Norte.

The company will use the funds to refinance an existing facility. The refinancing is intended to support the toll road’s construction, as well as financing various expansion works.

Baker McKenzie advised Autopista del Norte S.A.C., Aleatica S.A., Aleatica S.A.U. and Operadora de Carreteras S.A.C. with José Antonio Morán, Juan Carlos González Novo, Uldarico Ossio.

In Perù Estudio Echecopar (Baker McKenzie) advised Autopista del Norte S.A.C., Aleatica S.A., Aleatica S.A.U. and Operadora de Carreteras S.A.C. with Juan Carlos de los Heros Echecopar (Picture) and Fernando Sam Chec.

Garrigues advised Credicorp Capital Servicios Financieros S.A.; Sumitomo Mitsui Banking Corporation (SMBC); Banco de Crédito del Perú (BCP); Banco Santander, S.A; Itaú Corpbanca New York Branch; Corporación Interamericana de Inversiones (CII); Crédit Agricole Corporate & Investment Bank (CACIB) and ING Bank N.V., Dublin Branch with José Francisco Meier Checa, Jorge Fuentes, Ian Forsyth, Rodrigo Vega Mendez, Gaspar Atienza Becerril and Cristina Muiño.

Clifford Chance advised Credicorp Capital Servicios Financieros S.A.; Sumitomo Mitsui Banking Corporation (SMBC); Banco de Crédito del Perú (BCP); Banco Santander, S.A; Itaú Corpbanca New York Branch; Corporación Interamericana de Inversiones (CII); Crédit Agricole Corporate & Investment Bank (CACIB) and ING Bank N.V., Dublin Branch with Fabricio Longhin, Greg Kahn, Alberto Haito, Pablo Ariel Fekete, Rossmery Romero Pariachi, Lauran Smith and Edwin Ramirez-Homs.

Clifford Chance also advised Sumitomo Mitsui Banking Corporation (SMBC) with Mark Pesso and Roberto Ristorucci.

Sumara Hub Legal advised La Fiduciaria S.A. with Juan José Hopkins Brocq and Álvaro Castro Lora.

Involved fees earner: Juan Carlos de los Heros – Baker McKenzie; Juan Carlos Gonzalez Novo – Baker McKenzie; José Antonio Morán – Baker McKenzie; Uldarico Ossio – Baker McKenzie; Fernando Sam Chec – Baker McKenzie; Pablo Ariel Fekete – Clifford Chance; Alberto Haito – Clifford Chance; Greg Kahn – Clifford Chance; Fabricio Longhin – Clifford Chance; Mark Pesso – Clifford Chance; Edwin Ramirez-Homs – Clifford Chance; Roberto Ristorucci – Clifford Chance; Rossmery Romero Pariachi – Clifford Chance; Lauran Smith – Clifford Chance; Gaspar Atienza Becerril – Garrigues; Ian Forsyth – Garrigues; Jorge Fuentes – Garrigues; José Francisco Meier – Garrigues; Alvaro Castro Lora – Sumara Hub Legal; Juan José Hopkins Brocq – Sumara Hub Legal;

Law Firms: Baker McKenzie; Clifford Chance; Garrigues; Sumara Hub Legal;

Clients: Aleatica, SAU; Autopista del Norte S.A.C. ; Banco de Crédito del Perú; Banco Santander Sa; Credicorp Capital; Crédit Agricole Corporate and Investment Bank; ING Bank; Inter-American Investment Corporation; Itaú Corpbanca; La Fiduciaria S.A.; Operadora de Carreteras S.A.C.; Sumitomo Mitsui Banking Corporation;

Author: Ambrogio Visconti