Peru’s Echecopar advises on CMAC Cusco issuance
Estudio Echecopar, a Peruvian member firm of Baker & Mckenzie International, has advised the banks that structured and placed Caja Municipal de Ahorro y Crédito Cusco’s (CMAC Cusco) first program of negotiable deposit certificates for an amount of up to 100 million soles ($28.2 million).
The banks were Banco Internacional del Perú (Interbank), which acted as structuring agent, and Inteligo Sociedad Agente de Bolsa, which acted as placement agent.
This transaction brings a new issuer from the financial sector to the securities market, and which has the fourth-largest market share among municipal savings and loans banks in Peru.
On July 21, the Peruvian Superintendency of the Stock Market (SMV), the stock market commission, approved the registration of the first program of negotiable deposit certificates of CMAC Cusco and its framework prospectus.
The team that advised Interbank and Inteligo was led by partner Alonso Miranda (pictured), with senios associate Janett Burga and mid-level associate Andrea Cáceres.
