BBVA grants financing to Aeropuertos del Perú
BBVA Banco Continental granted two facilities to Aeropuertos del Perú S.A. (“AdP”): (i) a revolving credit facility for up to an amount of S/ 60 million (approximately, US$ 18 million); and, (ii) a medium-term loan facility for up to an amount of S/ 71.5 million (approximately, US$ 21 million). The transaction closed on November 29, 2016 and the proceeds of the facilities will be applied by AdP to finance the investments that it is obliged to make in connection with the periodic maintenance of the group of 12 airports that it operates in Peru.
Both facilities are guaranteed with the collection rights (PAO, Payment for Works) and derived cash flows that AdP will be entitled to receive from the Grantor (the Republic of Peru, acting through the Ministry of Transportation and Communications) for the investments made in connection with the periodic maintenance of the 12 airports.
The following lawyers of Miranda & Amado participated in the transaction advising BBVA Banco Continental: partner Jose Miguel Puiggros and associates Gabriela Dañino and Victor León Chiri.