PPU advised lenders on $85 million financing to AGP
PPU teams in Colombia and Peru advised Credit Suisse and other banks on a $85 million loan to AGP, the glass producer.
AGP (American Glass Products) is a specialty glass producer for the automotive, architectural, marine, and military markets. The company has manufacturing facilities in Peru, Brazil, and Colombia. Its eGlass division produces the largest ever windshield in the history of a passenger vehicle, for the Tesla Model X.
The credit agreement, which spanned three jurisdictions, is governed by NY law but collaterals have been allocated in Colombia and Peru.
Credit Suisse Cayman Islands Branch) acted as administrative agent while Banco de Crédito del Perú, Scotiabank Perú and Banco Santander Perú were also involved as lenders.
The banks instructed Philippi Prietocarrizosa Ferrero DU & Uría in Colombia and Peru, with partners Juan Fernando Gaviria in Bogota, and Miguel Ronceros and Jeanette Aliaga in Lima leading the operation.
Skadden, Arps, Slate, Meagher & Flom acted for the banks as NY counsel while Aleman, Cordero, Galindo & Lee provided advise under Panama law.
AGP instructed Miranda & Amado in Peru and Dentons Cárdenas & Cárdenas in Colombia.