Clifford Chance advises Sumitomo Mitsui Banking Corporation (SMBC), Credicorp Capital Servicios Financieros, Banco de Crédito del Perú, Banco Santander, S.A., Itaú Corpbanca New York Branch, Inter-American Investment Corporation, Crédit Agricole Corporate and Investment Bank and ING Bank N.V., Dublin Branch, in connection with a US$350 million senior secured financing to Autopista del Norte S.A.C., a subsidiary of Aleatica.
The funds will be used to refinance the existing facility provided to the Autopista del Norte to develop the Red Vial No. 4 toll road project in Peru, and to finance certain expansion works. The transaction closed on August 13, 2020.
The Red Vial toll road project is a 25-year concession which connects Pativilca and Puerto Salaverry along the Peruvian coast.
A multi-disciplinary Clifford Chance team across the New York and Washington, DC offices advised on this transaction as follows:
- New York counsel to Senior Lenders and Hedge Providers: partner Fabricio Longhin and associates Alberto Haito, Pablo Fekete, Rossmery Romero and Lauran Smith (currently seconded to IDB) in Washington, DC and counsel Greg Kahn and associate Edwin Ramirez-Holms in New York.
- New York counsel to SMBC in connection with the participation agreement with COFIDE: partner Mark Pesso and associate Roberto Ristorucci in New York.