Hunt Oil Company of Peru’s $600 Million Inaugural Bond Offering


Garrigues, Skadden, Arps, Slate, Meagher & Flom, Miranda & Amado and Milbank advised on the transaction

Hunt Oil Company L.L.C. , Sucursal del Perú, a branch organized and existing under the laws of Peru, executed its $600 million inaugural Rule 144A/Reg S offering of 6.375% senior trust enhanced notes due 2028.

Bank of America, JP Morgan, Citigroup and Credicorp acted as initial purchasers on the offering.

Hunt Oil Company engages in the exploration and production of oil and gas in the United States and internationally. The holders of the notes will have the benefit of a retention event trust through which all of the company’s cash flow will pass through until such time as there is a “Retention Event” at which time all cash will be collected and retained in the retention event trust and distributed by the retention event trustee. The company will use the net proceeds from the offering and cash on hand to repay in full its intercompany loan, term loan and to call for redemption of the entire $355 million aggregate principal amount of its local Peruvian bonds.

Simultaneously Hunt Oil Company del Perú LLC, sucursal del Perú secured a bridge loan of an undisclosed ammount from Banco de Crédito del Perú.

In Perù. Garrigues advised Hunt Oil Company of Peru LLC, Sucursal del Perú with Oscar Arrús, Sergio Amiel, Diego Harman, Rafael Martinelli and Jorge Fuentes.

Skadden, Arps, Slate, Meagher & Flom advised Hunt Oil Company of Peru LLC, Sucursal del Perú with Andrea Nicolas (Picture), Pamela Lawrence Endreny, Paul Kraske, Aryan Moniri, Jorge Kamine, Jenna Godfrey, Rebekah Rodriguez and Rotem Bar-Kokhva.

In Perù, Miranda & Amado advised Bank of America, JP Morgan, Citigroup and Credicorp with Juan Luis Avendaño Cisneros, Álvaro del Valle Roeder and Gabriel Boucher.

Milbank advised the initial purchasers with Marcelo Mottesi along with associates Jonathon Jackson, Jillian Martynec and Leandro Belusci.

Miranda & Amado Abogados advised Banco de Crédito del Perú with Juan Luis Avendaño Cisneros, Álvaro del Valle Roeder and Gabriel Boucher.

Involved fees earner: Juan Luis Avendaño – Miranda & Amado Abogados; Álvaro del Valle Roeder – Miranda & Amado Abogados; Gabriel Boucher – Miranda & Amado Abogados; Marcelo Mottesi – Milbank; Jonathon Jackson – Milbank; Jillian Martynec – Milbank; Oscar Arrús – Garrigues; Diego Harman – Garrigues; Sergio Amiel – Garrigues; Jorge Fuentes – Garrigues; Rafael Martinelli – Garrigues; Andrea Nicolas – Skadden Arps Slate Meager & Flom; Jenna Godfrey – Skadden Arps Slate Meager & Flom; Rebekah Rodriguez – Skadden Arps Slate Meager & Flom; Paul Kraske – Skadden Arps Slate Meager & Flom; Aryan Moniri – Skadden Arps Slate Meager & Flom; Jorge Kamine – Skadden Arps Slate Meager & Flom; Rotem Bar-Kokhva – Skadden Arps Slate Meager & Flom; Pamela Lawrence Endreny – Skadden Arps Slate Meager & Flom;

Law Firms: Miranda & Amado Abogados; Milbank; Garrigues; Skadden Arps Slate Meager & Flom;

Clients: Bank of America Merrill Lynch; Citigroup Inc.; JP Morgan; Bank of America; Banco de Crédito del Perú; Credicorp; Hunt Oil Company;

Author: Ambrogio Visconti