Multiple firms advise on $1.25bn financing for Lima airport expansion

Multiple firms have advised on the US$1.25 billion financing granted to Lima Airport Partners (LAP), the concessionaire that manages Peru’s Jorge Chávez International Airport, for the expansion of Lima’s airport.

The deal, signed on 22 December, is expected to close during the first quarter of 2023.

Rodrigo Elias & Medrano and Paul Hastings have advised LAP in Peru and New York, respectively, while Garrigues (Peru) advised the lenders and Miranda & Amado advised the administrative agent and trustee.

Thanks to the 7-year financing, the airport expansion, scheduled for completion in early 2025, will involve the design, construction and operation of a second terminal, as well as parking facilities and access roads. Upon completion of the project, the number of passengers is expected to increase to 35 million annually. LAP also intends to use part of the funds to repay outstanding debts.

BBVA, Scotiabank and IDB Invest acted as lenders, while Citibank acted as administrative agent and trustee.

Paul Hastings’ team included partner Elicia Ling (pictured left), counsel Maria Leonor Tobia and associates Anna Barbosa, Carolina Gonzalez and Matthew Smith.

Rodrigo Elías & Medrano’s team comprised partners Fernando Molina (pictured centre, left), Alejandro Manayalle and Nicolás Cornejo, and associates Fiorella Monge and Santiago Neira.

Garrigues’ team was led by partners Oscar Arrús (pictured centre, right) and Diego Harman, with support from associates Johanna Holz, Lissy Vega Centeno and Marcelo Silva-Santisteban.

Miranda & Amado’s team was represented by partner José Miguel Puiggros (pictured right) and associate Alessia Rocca.