Hernández & Cía and Andrews Kurth Kenyon have advised Corporación Interamericana de Financiamiento de Infraestructura S.A. (CIFI), in a $10m loan granted to Empresa de Generación Eléctrica Santa Lorenza S.A.C. (Santa Lorenza), owner of the concession for the development of the 18.7MW Santa Lorenza hydropower plant in Huánuco, Peru. The deal was closed on February 9th.
Established in 2001, CIFI is the primary non-bank financial institution in LatAm and the Caribbean specializing in infrastructure and energy financing, with more than 200 projects in 21 countries.
The financing was guaranteed by a trust agreement and was structured as a bridge loan under New York law. This bridge loan is the first step of a proposed syndicated loan of $50m, which will be closed during 2018. In addition, funds will be used for the construction of the hydropower plant and it associated transmission line.
Hernández & Cía acted as Peruvian legal counsel to CIFI with a team led by partner Brendan Oviedo, assisted by senior associates Jose Goyburu and Evelyn López.
Andrews Kurth (Dallas) served as US counsel to CIFI; Estudio Muñíz served as Peruvian counsel to Santa Lorenza and to Textiles Camiones S.A. and Jones Day served as US counsel to Santa Lorenza and Textiles Camones S.A.