PPU advised GyM Ferrovias on Lima metro $316 million financing

Philippi, Prietocarrizosa, Ferrero DU & Uría helped GyM Ferrovias obtain a $316 million loan to finance the expansion of the metro system in Lima. 

GyM Ferrovías is a consortium formed between Peruvian construction firm Graña y Montero (GyM) and Argentinian train company Ferrovías. It was awarded a 30-year concession to operate and maintain a line of Lima´s underground transport system in 2011. In 2016, the consortium signed a contract to complete a US410mn expansion of the service.

Mizuho Securities and Mizuho Bank provided the loan and instructed Clifford Chance as international counsel and Rodrigo, Elias & Medrano in Peru. 

Partner Ronald Fernández-Dávila led the PPU team advising GyM Ferrovías. The company retained Paul Hastings as international counsel. 

Ignacio Abella