Jose Goyburu

H&Cía advises on $60m financing to LatAm Logistic

Hernández & Cía has advised Banco BBVA Perú in the structuring and granting of a sustainable long-term financing in favour of LatAm Logistic Per Propco Lurin I for up to USD $60,000,000.00 in order to complete the construction and start-up of its first logistics park in Peru.

The proceeds of the loan were used, among others, to repay an existing debt granted by the International Finance Corporation – IFC and to make real estate investments in order to complete the construction and start-up of its first logistics park in Peru. This park has Edge and Edge Advanced certifications, which guarantee an efficient sustainable construction with energy, water and material saving options.

This transaction was closed on 15 December 2023, where Rodrigo Elías & Medrano Abogados acted as advisor to LatAm Logistic. The operation was carried out under the KPI Linked Loan modality, through which an agency specialised in sustainability has established the adequate management of usable waste as an indicator. In this way, the commercial conditions of the loan are subject to compliance with this KPI, so the borrower must have a ratio of 50% of usable waste managed by 2030, generating an environmental, social and economic impact.

The long-term loan is secured by a trust over two properties owned by LatAm, and by a trust over the collection rights and flows derived from lease agreements entered into with third parties with respect to the properties in guarantee.

LatAm Logistic is a developer, owner and manager of modern and sustainable logistics real estate in the Andean and Central American regions.

H&Cía’s team was led by partner Jose Goyburu Vassallo (pictured), supported by senior associate Julien Labory-Alicq and associate Flavio Castañeda Aguirre.

Rodrigo Elías & Medrano’s team included partners Luis Enrique Palacios and Nydia Guevara Villavicencio, and associate José Villafuerte Mendoza.

L Giselle Estrada