Rebaza, Alcázar & De Las Casas assists HMC in $500m funding

Rebaza, Alcázar & De Las Casas have steered HMC Asset Management to the formation of two public investment funds

Rebaza, Alcázar & De Las Casas assisted HMC Asset Management S.A. Sociedad Administradora de Fondos de Inversión (SAFI) in the formation of of two public investment funds: Fondo HMC Crédito Perú II (USD), FI” and “Fondo HMC Crédito Perú II (PEN), FI”. The target capital of the “Fondo HMC Crédito Perú I (USD), FI” is $250 million and the “Fondo HMC Crédito Perú II (PEN), FI” is S/863 million ($240 million).

From the legal perspective, the transaction involved advice on the design and formation of the funds, evaluation of their investment policies, drafting the prospectus with a primary focus on the investments regulations of qualified institutional buyers such as Administradoras de Fondos de Pensiones (AFP’s) and insurance companies.

Both funds were registered before the Public Registry of the Stock Market of the Peruvian Superintendence of Securities Market, as they are public investment funds, under the simplified regimen and offered to qualified institutional buyers. Hence, the transaction had a critical regulatory component. Likewise, from a debt financing market perspective through debt instrument placements, this transaction has an essential impact since both funds are focused on financing Peruvian companies through the acquisition of debt instruments.

HMC SAFI was authorized by the Peruvian Superintendence of Securities Market on September 19 of last year. With the launch of the investment funds, it is expected that HMC will consolidate its participation in the Peruvian Securities Market. HMC SAFI is part of HMC Capital founded in 2009, with operations in Colombia, Brazil, Mexico, New York and Peru.

Rebaza, Alcázar & De Las Casas team was led by partner Rafael Alcázar (pictured), and involved senior associates Fiorela Ccahua and Victor Valdez, and associate Valeria Sánchez.