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We advised PERU LNG in an international bond issue in the amount of USD 940,000,000

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April 2, 2018

We advised PERU LNG in an international bond issue in the amount of USD 940,000,000

The producer of Gas Natural Peru LNG made an international bond issue for USD 940 million, with an interest rate of 5.375% and maturity in 2030, whose objective is to prepay a pending credit of the corporation.

The issuing company was represented by Baker Botts LLP, in Dallas, Houston and New York, and DLA Piper Pizarro Botto Escobar in Peru, in coordination with a team of lawyers from its internal legal consultancy.

Bank of America Merrill Lynch, global coordinator, Citibank, Credicorp and JP Morgan, joint bookrunners, were advised by Milbank, Tweed, Hadley & McCloy LLP in and Miranda & Amado Abogados in Peru.

The securities were offered in accordance with Rule 144A and Regulation S of the United States Securities and Exchange Commission. DLA Piper Pizarro Botto Escobar indicated to LexLatin, in the review of the operation, that the offer was successful despite the current political circumstances in Peru.

Peru LNG was created to manage Melchorita’s natural gas plant in San Vicente de Cañete, a district located on the central coast of the country. According to its profile in Banamericas, the infrastructure is made up of two cryogenic storage tanks of 130,000 m3, receives gas from the Camisea fields in the department of Cusco, and has a nominal production capacity of 4.5Mt / y, with a daily natural gas processing capacity of 620Mpc (17.7Mm3).

Melchorita and the pipeline required a total investment of USD 3,800 million, is the first LNG plant in South America and began production in 2010.

Advisors of Peru LNG:

Lawyers in-house: Solange Cuadros and Cecilia Cahuayme.

Baker Botts LLP (Dallas, Houston and New York): Partners Preston Bernhisel, Daniel Tristan, Martin Toulouse, Terence Rozier-Byrd, Steve Marcus, Josh Mandell and Jason Bennett. Associates Michelle Matthews, Rosemary Maberry, Jacqueline Scioli, David Nimmons, Jordan Hahn and Taylor Lopez.

DLA Piper Pizarro Botto Escobar (Lima): Partners Ricardo Escobar and Sergio Barboza. Principal Associate Sheila Espinal. Senior Associate Melissa Padilla. Farah Torres. Junior Associate Ricardo Mercado.

Advisors to the coordinating banks and bookrunners:

Milbank, Tweed, Hadley & McCloy LLP (New York): Partners Marcelo Mottesi and Alec Borisoff. Associates Alex Gefter, Lyndon Plothow, Delia Solomon and Jeeseon Ahn.

Miranda & Amado Abogados (Lima): Partners Juan Luis Avendaño Cisneros and José Miguel Puiggros Otero. Senior associate Álvaro Del Valle Roeder. Associate Gabriel Boucher.

 

Read the full story here:

https://lexlatin.com/portal/en/noticia/gasifera-peru-lng-emite-bonos-usd-940-millones-pagar-linea-credito

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