Cleary Gottlieb represents banks in $200m Camposol loan
US law firm Cleary Gottlieb Steen & Hamilton represented Banco Santander and Coöperatieve Rabobank in their role as lead arrangers and initial lenders in a $200 million senior secured term loan facility for Peruvian fresh foods producer Camposol.
The loan is secured by certain property, machinery, equipment and other assets.
The proceeds of the loans were used to repay Camposol’s senior notes due 2021, according to the law firm.
Camposol’s products include blueberries, cranberries, avocados, mangoes and grapes, as well as shrimp. The company reported $290 million in sales during the first nine months of 2018, a 20-per cent increase on the same period of 2017, and which the company partially attributed to the increase in volume and price of cranberries.
The law firm’s New York-based team included corporate and finance partner Adam Brenneman, associate Jessica Repond, and law clerk Pati de Lucio. Partner Erika Nijenhuis and associate Julian Cardona advised on tax matters.
