Hernández & Cía Advises Tramarsa on Placement of $200m Notes Deal

Posted on Apr 10, 2018

Hernández & Cía and White & Case USA have advised Trabajos Marítimos, a leading maritime and port operator in Peru, in an international private placement of $200m 4.51% Series A senior notes due December 15th, 2028. The deal was closed on March 15th.

The offering was structured as a private placement under New York law, and guaranteed by Tramarsa’s subsidiaries through a security package under Peruvian law containing two guarantees.

The final buyer list was comprised of four large institutional investors, all of them from the health and life insurance sector.

This $200m international notes private placement is the first step in a total placement of $300m and represents Tramarsa’s inaugural issuance in the international debt capital markets.

Hernández & Cia served as Peruvian counsel to Tramarsa, with a team led by partners Ricardo Luque and Diego Carrión, assisted by senior associate José Goyburu and associates Andrés Marcos and Andrea Limón.

White & Case, led by partners Carlos Viana and Bibiana Jaimes, served as US counsel to Tramarsa.

Rodrigo, Elías & Medrano Aboogados and Morgan, Lewis & Bockius, acted as counsel to the purchasers of the notes.

C.G.L.