Echecopar assists Perurail in $65m loan
Estudio Echecopar, associated with Baker McKenzie International, has assisted Perurail and entities of its economic group acting as guarantors, in a senior loan for $65,000,000 US dollars.
The loan was guaranteed under New York law, and was granted by Banco Santander, Banco Santander Peru and Global Bank Corporation, with Banco de Credito del Peru acting as administrative agent.
The proceeds will be used to refinance Perurail’s existing debt with Banco Santander Peru in the outstanding amount of $39,000,000 and for general corporate purposes and capital expenditures of the borrower.
Cleary Gottlieb Steen & Hamilton LLP acted as counsel to Perurail in connection with the transaction documents under New York law.
The advice under Peruvian law involved the complete security package, consisting of two security interest agreements and the amendment of a trust agreement securing the existing debt.
Echecopar’s team consisted of partner Marco Alarcón (pictured left) and associate Adrian Tovar (pictured right).
