$316 Million Financial Closing for the Expansion of Line 1 of the Lima Metro


Paul Hastings, Philippi, Prietocarrizosa, Ferrero DU & Uría, Clifford Chance, Rodrigo, Elías & Medrano and Alston & Bird advised on the deal

Graña y Montero S.A.A., a leading Engineering and Construction company, announced that its subsidiary GyM Ferrovías finalized the financial closing of the expansion project of Line 1 of the Lima Metro. The financing amounts to approximately US $ 316 million, which will permit the acquisition of 20 trains and 39 Alstom cars, as well as the improvement and expansion of 5 train stations (electric reinforcement, expansion of stations, additional garages, increase of 8 links – double exchanges and construction of the second access to the Villa el Salvador train yard) that will help expand the capacity of the Line 1 service.

Thanks to this project, the frequency of trains during peak hours can be reduced by half, from six to three minutes, and the number of clients transported per day will increase from 320,000 to 500,000.

The financial entities involved in the Financing of the Expansion were Mizuho Securities USA LLC and Mizuho Bank, Ltd., as structuring agents; Mizuho Bank Ltd., as administrative agent; and Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation, as mandated lead arrangers.

Paul Hastings LLP advised GyM Ferrovías and Constructora Graña y Montero S.A.A with Cathleen McLaughlin (Picture), Yana Lantsberg, Alex Herman, Inho Ko, Matthew Turner and Maria Leonor Tobia.

In Perù, Philippi, Prietocarrizosa, Ferrero DU & Uría advised GyM Ferrovías and Constructora Graña y Montero S.A.A with Ronald Fernández-Dávila, Lorena Sarmiento, Fiorella Ruiz and Ashlie Bobadilla.

Clifford Chance advised Mizuho Bank and Sumitomo Mitsui Banking with Gianluca Bacchiocchi, Jeffrey Susskind, Silvia Menendez, Tyler Grant, Nicholas Loukides, Shane Meckler, Nolan Groenland, Robin Houtveen, Mark Jan Arends, Leen Kranenburg and Michiel Sunderman.

In Perù, Rodrigo, Elías & Medrano Abogados advised Mizuho Bank and Sumitomo Mitsui Banking with Fernando Molina, José Talledo, Laura Zúñiga and Francisco Carrillo.

Alston & Bird advised The Bank of New York Mellon acting as Trust Agent with Brad Johnson

Involved fees earner: Fernando Molina – Rodrigo, Elías & Medrano Abogados; Francisco Carrillo – Rodrigo, Elías & Medrano Abogados; José Talledo – Rodrigo, Elías & Medrano Abogados; Laura Zúñiga – Rodrigo, Elías & Medrano Abogados; Ronald Fernández-Dávila – Philippi Prietocarrizosa Ferrero DU & Uría; Lorena Sarmiento Aguirre – Philippi Prietocarrizosa Ferrero DU & Uría; Fiorella Ruiz del Campo – Philippi Prietocarrizosa Ferrero DU & Uría; Bradley Johnson – Alston & Bird LLP; Cathleen McLaughlin – Paul Hastings; Yana Lantsberg – Paul Hastings; Alex Herman – Paul Hastings; Inho Ko – Paul Hastings; Matthew Turner – Paul Hastings; Maria Leonor Tobia – Paul Hastings; Gianluca Bacchiocchi – Clifford Chance; Jeffrey Susskind – Clifford Chance; Silvia Menendez – Clifford Chance; Tyler Grant – Clifford Chance; Nicholas Loukides – Clifford Chance; Shane Meckler – Clifford Chance; Mark Jan Arends – Clifford Chance; Leen Kranenburg – Clifford Chance; Nolan Groenland – Clifford Chance; Michiel Sunderman – Clifford Chance;

Law Firms: Rodrigo, Elías & Medrano Abogados; Philippi Prietocarrizosa Ferrero DU & Uría; Alston & Bird LLP; Paul Hastings; Clifford Chance;

Clients: Mizuho; Sumitomo Mitsui Banking Corporation; Bank of New York Mellon; Graña y Montero; GyM Ferrovías;

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Author: Ambrogio Visconti