Invepar has closed an hybrid financing

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Invepar has closed an hybrid financing. The financing has a rarely used hybrid structure: * Two series of notes that total approximately $445 (a senior secured variable funding series and a senior secured inflation-adjusted variable funding series) and * A $82 million senior secured term loan from Banco de Crédito del Perú and Banco Internacional del Perú (Interbank). Additionally, Línea Amarilla Brasil has committed to contribute up to $358 million in equity in order to cover project costs and ensure completion of the project, backed by letters of credit and guaranteed by Invepar. BNP Paribas acted as arranger; BNP Paribas Securities Corp. acted as placement agent; Citibank, N.A. acted as common security agent and indenture trustee; and Citibank del Peru S.A. acted as common security sub-agent, administrative agent and representative of the indenture trustee in Peru. Davis Polk advised Línea Amarilla S.A.C. as issuer and borrower, Línea Amarilla Brasil Participações S.A. as sponsor, and Invepar as limited recourse completion guarantor

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