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February 25, 2015

Intercorp Peru refinances debt in three stages

Miranda & Amado Abogados, along with Simpson Thacher & Bartlett LLP in New York, have advised Citigroup and Credit Suisse as initial purchasers for the transaction done by the conglomerate Intercorp Peru.

The deal was completed in three stages: Intercorp first closed an international bond offering in Peruvian Soles worth some US$ 98 million on February 10th, before issuing a second tranche of debt two days later on the international capital markets valued at US$ 250 million. The conglomerate then used the proceeds to make cash tender for the company’s notes due in 2019 worth US$ 250 million.

Citigroup and Credit Suisse were advised by partners Juan Luis Avendaño Cisneros and Pablo Sotomayor, and associates Mauricio Balbi, Daniela Higueras, Vanessa Masalías and Eduardo Pedroza, from Miranda & Amado Abogados.