Alicorp SAA and some of its subsidiaries in Colombia, Ecuador and Spain signed a syndicated financing for a total amount of up to US$480 million with a group of international financial institutions.
The financing includes a committed credit line of up to US$230 million for Alicorp SAA, with an initial term of three years, and term loans of US$250 million over five years for Alicorp Colombia SAS, Alicorp Ecuador SA and Alicorp Holdco España, SLU. The financing also contemplates the possibility of having a portion of the facilities in Colombian pesos.
BBVA, Citibank, NA, JPMorgan Chase Bank and Banco Santander acted as Joint Lead Arrangers and Joint Bookrunners, along with other financial institutions that participated as lenders.
Garrigues acted as local advisor to the lenders, offering legal advice on Colombian, Peruvian and Spanish law in relation to the structuring, negotiation and documentation of this multi-jurisdictional financing.
Jorge Fuentes, counsel at Garrigues Peru, who co-led the transaction, highlighted the significance of the agreement: “This transaction represents a major milestone in Alicorp’s continued growth and regional expansion, and provides the company with a flexible financing platform to support its operations in key Latin American markets. We are very pleased to have advised the lenders on a transaction of this magnitude, coordinating the Garrigues teams in Colombia, Peru, and Spain to deliver a comprehensive and efficient legal solution.”
Legal Advisors:
Alicorp Advisors:
- In-house lawyers: Johanna Holz, Carolina Perez-Taiman and Paloma Leigh.
Lender Advisors:
- Garrigues (Colombia): Partner Francisco Noguera. Senior Associate Mónica Rodriguez. Associate Anthony Lugo.
- Garrigues (Spain): Partner José Miguel Pinillos. Senior Associate Clemente Mateo.
- Garrigues (Peru): Partner Diego Harman. Counsel Jorge Fuentes. Associates José Ignacio Porto and Claudia Wong.
