Estudio Echecopar has a rich 68 years of history servicing domestic and international clients in this dynamic market. The combination of our rich local knowledge and experience with the global resources and reach of Baker McKenzie open new doors for our domestic clients and create opportunities for our lawyers and staff to serve an expanded roster of international companies eager to grow in Peru.
Antitrust and competition | arbitration and litigation | banking and finance | bankruptcy | capital markets | civil law | compliance | corporate | employment | environmental | intellectual property | international commercial and trade | ITC | M&A | mining, energy and infrastructure | pharmaceutical | project finance | public law | real estate | regulatory | tax | transfer pricing.
Advised Fondo MIVIVIENDA in connection with the issuance of its 7.000% corporate bonds due in 2024 (the Notes) for an aggregate principal amount of 1,500 million sol and the offering (i) to Peruvian investors in a local public offering, and (ii) to international investors in the form of GDNs in an international private offering, pursuant to Rule 144A and Regulation S of the US Securities Act of 1933. It was the largest non-sovereign issuance in local currency since 2010 and the first non-sovereign issuance of notes in GDNs.
Banking and finance
We advised LAMSAC on its first syndicated 10-year loan after being acquired by the French company Vinci Highwas SAS (Vinci Highways). This loan of 211 million Peruvian sol (US$65 million approximately) was obtained in order to finance the completion of construction works of the "Via Expresa Linea Amarilla", a transport project that will benefit Lima population by decreasing the traffic density and enhancing the vehicular transit within the Callao region and the eastern and southern area of the city of Lima.
In 2012, we worked on a landmark financing package worth US$527.2 million for the construction of the Via Expresa Linea Amarilla toll road. The financing deal closed on 28 June 2012 and made use of a rarely used hybrid structure comprising two series of notes totaling US$445.2 million and loans amounting to US$82 million. This was the first time a hybrid bond and loan structure had been used to finance a toll road concession in Peru, while the bond issuance was thought to be the largest ever made by a non-sovereign entity in Peruvian currency.
We advised National Tourism Investments SA. (Intursa), part of the Breca Group, regarding the acquisition of 99.97% of the outstanding shares of Inversiones La Rioja SA, owner of assets of the Marriott International Inc hotel chain in Peru, for an amount of US$218 million. This was a complex transaction with several regulatory facets, as the company was supervised by the SMV, which required a particular legal analysis in terms of OPA rules, considering the number of sellers involved in the transaction, the percentage of shares for sale and the procedure for the exchange of the operation in the stock exchange of the Lima Stock Exchange.
Partners – 31, associates – 66Av. La Floresta 497, Piso 5
San Borja, Lima 41
Tel: +51 1 618 8500
Fax: +51 1 372 7374www.echecopar.com.pe