Echecopar counsels Scotiabank on Yura bond buyback offer

Estudio Echecopar has assisted Scotiabank Peru in connection with an offer to repurchase Yura’s corporate bonds

 Estudio Echecopar, associated with Baker & McKenzie International, has counselled Scotiabank Perú S.A.A., in its role as liability management advisor, in connection with the offer to repurchase corporate bonds of Yura S.A. to repurchase and redeem up to 80,000, 30,000 and 20,000 bonds issued by Yura S.A. under its First, Second and Third Issues, respectively, under its “Fourth Yura Corporate Bond Program” registered with the Superintendencia del Mercado de Valores (Superintendency of the Securities Market).

Through this transaction, Yura S.A. acquired a total of 78,550 First Issue bonds and 1,000 Third Issue bonds for a total consideration (including principal and accrued interest) of PEN 84’751,001.73 (First Issue) and PEN 1’003,442.68 (Third Issue), respectively.

Yura S.A. (Yura) is a cement producer, part of the Peruvian conglomerate Gloria Group, subsidiary of Consorcio Cementero del Sur S.A. (92,65%). Founded in 1996, focused on the preparation, transportation and sale of ready-mix concrete, as well as for the extraction and grinding of metallic and non-metallic minerals in Peru.

Echecopar’s team consisted of partner Alonso Miranda (pictured left) and associate Adrián Tovar (pictured right).