Peru’s Monte Azul Sur Makes $12m Bond Offering

Monte Azul Sur, the hydrocarbons logistics arm of Corporación Monte Azul, has made a successful $12 million bond offering.

Monte Azul Sur, the hydrocarbons logistics arm of Corporación Monte Azul, has made a successful $12 million bond offering.


Monte Azul Sur is currently building the Mollendo liquid fuels storage terminal in Peru’s Arequipa province, a 968,000-square-foot facility that will have an initial storage capacity of 550,000 barrels, and which will be expandable to store one million barrels, and which will serve the increasing demand for fuel in the country’s south. 

The proceeds from the bond issuance will be used for works of the maritime terminal for the storage and dispatch of fuel, and Monte Azul’s general corporate purposes of Monte Azul.

Corporación Monte Azul is a holding Company dedicated to logistics and real estate development.

The arrangers of the issuance, ACRES Sociedad Agente de Bolsa, and the investor, Fondo Macro Infraestructura, managed by Macro Asset Management, were advised by law firm Rubio Leguía Normand.

Rubio Leguía Normand’s team was led by partner Carlos Arata.

"The complexity in this transaction was due to the short time we had for its closing, where we also had to engage this transaction with the financing that the issuer maintains in force with another financial entity,” Arata said.

“Likewise, it has been a challenge for us as advisers to carry out this negotiation and achieve the closure of the deal during the national emergency situation in which we are currently involved,” he added.

Monte Azul Sur was advised by Philippi, Prietocarrizosa, Ferrero DU & Uría (PPU), with a team led by partner Antonio Guarniz, with associate Annie Collazos.

ACRES Sociedad Agente de Bolsa was advised by its in-house attorney Shirley Cotrina, while Monte Azul Sur’s in-house counsel advising on the issuance was Jorge Aguilar Ratto.

 

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