Peruvian railway operator secures financing
Train operator PeruRail has enlisted Estudio Echecopar member firm of Baker McKenzie International in Lima to obtain a US$65 million loan.
The lenders relied on Skadden, Arps, Slate, Meagher & Flom LLP in New York and Peru’s Rubio Leguía Normand.
US firm Cleary Gottlieb Steen & Hamilton LLP is also thought to have advised PeruRail, but Latin Lawyer could not confirm this prior to publishing.
The transaction closed on 1 June.
PeruRail will use the proceeds to repay its outstanding US$39 million debt with Santander and for general corporate purposes.
Founded in 1999, PeruRail provides tourism and charter services in southern Peru. The company was set up as a joint venture between Peruvian founder Lorenzo Sousa and UK train and hotel operator Belmond. The company manages numerous routes in the South American country, including the famous line from Cuzco to Machu Picchu.
Counsel to PeruRail
Estudio Echecopar member firm of Baker McKenzie International: Partner Marco Alarcón and associate Adrian Tovar in Lima
Counsel to Santander and Global Bank Corporation
Skadden, Arps, Slate, Meagher & Flom LLP: Partner Alejandro Gonzalez Lazzeri and counsel Nicolas Perez Sierra in New York
Rubio Leguía Normand: Partner Andrés Kuan-Veng and associate Germán Gómez
*Nota publicada originalmente en Latin Lawyer.