Peruvian agribusiness company Camposol instructed Simpson Thacher on its private offer to exchange $200 million 9.875% Senior Notes due 2017 for newly issued 10.5% Senior Secured Notes due 2021.
Camposol is an agribusiness company in Peru and the country´s largest producer of avocados. It is also among the top five producers of blueberries in the world and exports its products to markets in Europe, the United States and Asia.
The exchange offer consisted of a par exchange of new Notes for existing Notes, and included the grant of a security interest over land collateral that was transferred to a Peruvian trust for the benefit of bondholders, as well as guarantees from Camposol’s parent and several of its subsidiaries. Approximately 75% in principal amount of existing notes were tendered in the exchange offer.
The Simpson Thacher team advising Camposol included partners David Williams, Michael Nathan, Jaime Mercado and Rob Holo.