Ecosac’s $93.5 Million Syndicated Loan

Rubio Leguía Normand and Linklaters advised Ecosac on the transaction.
Clifford Chance and Miranda & Amado advised IDB Invest and Deutsche Investitions-und Entwicklungsgesellschaft mbH.

IDB Invest, DEG – the German state development finance institution –and Rabobank have provided $ 93.5 million worth of financing to Ecosac, one of Peru’s main agro-export companies.

The deal consists of two $35 million senior secured loans each from IDB Invest and DEG, and one from Rabobank for $23.5 million.

This deal aims to support Ecosac in its growth strategy, providing funding that allows it to expand its agricultural production with the planting of 250 new hectares of table grapes, improvements in production efficiencies, financing permanent working capital and debt refinancing. Total agricultural production is forecast to grow by 58% between 2021 and 2026.

In addition, the investments, both in the field and in the processing plants, will lead to productive efficiencies that will translate into an increase in the total factor productivity of an average 7% per year between 2021 and 2026. The funds will also allow the increase in exports and the preservation and creation of local employment in rural areas.

Rubio Leguía Normand advised Ecosac with Andrés Kuan-Veng (Picture), José Francisco Iturrizaga and  Germán Gómez.

Linklaters advised Ecosac in US.

Clifford Chance advised IDB Invest and DEG – Deutsche Investitions-und Entwicklungsgesellschaft mbH with Jessica Springsteen and Alejandro León.

In Perù, Miranda & Amado advised IDB Invest with  José Miguel Puiggros, Rafael Santín López Torres and Alicia La Cruz Franco.

Involved fees earner: Alejandro León – Clifford Chance; Jessica Springsteen – Clifford Chance; Alicia La Cruz – Miranda & Amado Abogados; José Miguel Puiggros Otero – Miranda & Amado Abogados; Rafael Santín López Torres – Miranda & Amado Abogados; Germán Gómez – Rubio Leguía Normand; José Francisco Iturrizaga – Rubio Leguía Normand; Andrés Kuan-Veng Cabrejo – Rubio Leguía Normand;

Law Firms: Clifford Chance; Miranda & Amado Abogados; Rubio Leguía Normand;

Clients: DEG (Deutsche investitions und entwicklungsgesellschaft); Ecosac; IDB Invest;

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Author: Ambrogio Visconti