PPU advised lenders on $30 million multi-jurisdictional financing

Philippi Prietocarrizosa Ferrero DU & Uría acted for Scotiabank and Colpatria on a $20 million financing to Pieriplast, a deal spanning Colombia, Spain and Peru.

Pieriplast is a Peruvian company which designs and manufactures plastic containers for cosmetics and perfumes.

Proceeds from the Scotiabank loan, denominated in dollars and Peruvian soles, will be use by Pieriplast to refinance existing debt. As part of the transaction, Intecplast, which is Pieriplast´s sister company in Colombia, also refinanced its 30 million Colombian pesos debt contracted with Colpatria and BBVA.

The Colombian leg of the deal saw Scotiabank as grantor of the refinancing and BBVA transfer its rights and duties under the debt to Colpatria thus the latter becoming the only secured creditor. The complex transaction is secured by Colombian, Peruvian and Spanish guarantees.

Partners Ronald Fernández-Dávila in Peru and Juan Fernando Gaviria in Colombia led the PPU teams advising Scotiabank and Colpatria, respectively. 

DLA Piper provided Spanish counsel to both lenders. 

The borrowers and joint debtors instructed Miranda & Amado Abogados in Peru, Gómez-Pinzón Zuleta Abogados in Colombia and Hogan Lovells in Spain.

PPU advised lenders on $30 million multi-jurisdictional financing

Ignacio Abella

thelatinamericanlawyer.com

The Latin American Lawyer is a bimonthly digital magazine, published by Iberian Legal Group, available in Spanish and Brazilian Portuguese. It represents the main source of information in the legal business sector in America Latina. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

For further information, please visit the Group’s website www.lcpublishinggroup.com

Iberian Legal Group
Registered office: C/ Manuel Silvela, 8 - Oficinas 1 Dcha 28010 Madrid España

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram