Chadbourne & Parke LLP is pleased to announce that Trade Finance, a Euromoney news and analytics service, has named the Lima and Callao metro project financing that the firm worked on its “Americas Deal of the Year 2015.”
Chadbourne represented the underwriters in a US$1.15 billion senior secured note offering to finance a portion of the construction costs of the second line of the Lima and Callao metro project in Peru. This is the largest ever bond offering supported by Peruvian government payment rights. Citigroup, Morgan Stanley and Santander acted as global coordinators, and Banca IMI, BBVA, Bank of America Merrill Lynch, Crédit Agricole, Natixis and Société Générale acted as joint bookrunners in the offering.
The project is one of the largest projects initiated under the country’s comprehensive infrastructure build-out plan, which has developed steadily over the last few years, with several more projects in the pipeline. The deal will partially finance the 35 km Lima Metro Line 2, which is expected to cost more than US$5 billion, the largest project ever awarded by the Peruvian government.
The transaction was also named Project Finance International’s “PPP Deal of the Year (Americas).”
The Chadbourne team was led by partners Daniel Spencer and Marc Rossell, with assistance from counsel Joseph Giannini, associates Diego Brandão and Nicolas Ferre, and international associate Terence Beringhs.
The original press release can be found here on Chadbourne’s website.