Philippi Prietocarrizosa Ferrero DU & Uría advised Scotiabank on the structuring and filing with the Securities Regulator of a securitization trust for the operators of Mega Plaza, the shopping mall chain in Peru.
The originators are Inmuebles Panamericana, owners of the several shopping centres in Peru operating under the brand Mega Plaza. The securitization trust involved cash flows from seven different shopping centres, three of them in Lima and the remaining located in the cities of Cañete, Chincha, Pisco and Barranca.
Under this program, securitization bonds will be issued up to a maximum outstanding amount of $91 million (aproximately). Through the first two issuances under this program (both placed on the same day), the originators raised PEN 165 million (approximately $50 million).
Partner Reynaldo Antonio Guarniz Izquierdo led the PPU team advising Scotiabank in Peru.
Inmuebles Panamericana instructed Rebaza, Alcázar & De las Casas.