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
List of the country updates

Country updates

  • July 18, 2012

    A tender for the selection of consultants to structure the projects has been published

  • July 16, 2012

    13 consortia have been qualified for the final tender so far

  • July 13, 2012

    The project will be awarded in 2013

    The project will be awarded in 2013. Proinversion has reported that there are 25 consortia interested

  • June 20, 2012

    The consortium formed by GEODATA Engineering Spa (70%), Universidad ESAN (15%) and Serconsult SA will advise the government

  • June 18, 2012

    Project timeline updated

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