Several firms advise on $125m financing to Stracon Holdings
Several firms have advised on the USD125m syndicated loan to Stracon Holdings, a portfolio company of Ashmore Group, through its Andean private equity fund, Ashmore Andean Fund II.
The financing was structured under New York law by Sumitomo Mitsui Banking Corporation (SMBC). The structure included the provision of a package of guarantees in the jurisdictions of Peru and Chile.
Sumitomo Mitsui Banking Corporation acted as structuring bank, hedging coordinator, sole bookrunner, mandated lead arranger and lender; Natixis (New York Branch) as mandated lead arranger and lender; and Banco de Crédito e Inversiones (Miami Branch), Metrobank, Mega International Commercial Bank Co. and Banco Internacional del Perú as lenders.
Cuatrecasas and A&O Shearman acted as advisors to Stracon in Chile and Peru, as well as in the US, respectively. Garrigues advised the structurer and the lenders in Chile and Peru, and Clifford Chance advised the lenders in the US. In addition, an independent team from the Garrigues Chile office advised TMF, as Chilean collateral agent.
Stracon Holdings is the holding entity of the STRACON Group, a mining services provider focused on the Americas, with subsidiaries in Peru, Chile and Canada, and branches in five other countries in the region. The proceeds of the loan will be used to repay certain existing debt and for general corporate purposes.
Andrés Pesaque acted as in-house counsel to Stracon.
Cuatrecasas’ team was led by partners Oscar Trelles (pictured top left) and Kiomi Osorio (pictured top centre), from the Lima office. Partner Macarena Ravinet, senior associate Federico Espinosa and associate José Agüero from Santiago, and associates Augusto Hostia and Valeria Abarca from Lima also participated.
A&O Shearman’s team comprised partner Augusto Ruiloba (pictured top right), and visiting attorney Ana Gabriela Martinez Kruyff.
Garrigues’ Chile team was represented by partner Antonio Morales (pictured bottom left) and associate Mateo Weinborn. The team in Peru was composed of partner Diego Harman (pictured bottom centre) and associates Jorge Luis Ganoza and Jose Ignacio Porto. Senior associate Daniel Hernández and associate Tomas Irarrázaval acted as counsel to TMF in Chile.
Clifford Chance’s team included counsel Alberto Haito (pictured bottom right) in Washington, DC and associates Joyce Moore and Maria Fernanda Gadea Rivera in New York.
