PPU represented Credit Suisse in refinancing to Zacapa

Peruvian airport gets cross-border loan

Philippi Prietocarrizosa Ferrero DU & Uría has counselled Credit Suisse AG Cayman Islands Branch on the refinancing granted to ZACAPA and ZACAPA LLC, as borrowers, for an amount of $1,310,000,000 US dollars.

This refinancing precedes a 2018 financing between the same parties.

The transaction closed on 22 March, with a post-closing date of 4 April, and included the jurisdictions of Colombia, the United States, Spain, Guatemala, Panama, Costa Rica and Luxembourg.

The firms advising on the transaction were as follows:

  • Freshfields Bruckhaus Deringer as New York counsel to the borrowers;
  • Aleman Cordero Galindo & Lee acted as Panamanian counsel to the administrative agent;
  • Aguilar Castillo Love acted as Costa Rican counsel to the administrative agent;
  • Carey Olsen acted as BVI counsel to the administrative agent;
  • Ashurst LLP acted as Spanish counsel to the administrative agent;
  • Posse Herrera Ruiz as counsel to the borrower; and
  • Davis Polk as New York counsel to Credit Suisse.

Aleman Cordero Galindo & Lee’s team was led by partner Rita de la Guardia, assisted by associates Diego Anguizola and Mario Vlieg.

Aguilar Castillo Love’s team included partners Juan Carlos Castillo, Natalia Callejas and Marco Solano, and associates Karlo Suñol, Laura Rodríguez and Iván David Quintana.

Ashurst’s team comprised partners Jose Christian Bertram and Isabelle Lentz, together with counsel Paul Witte.

Posse Herrera Ruiz’s team consisted of partner José Alejandro Torres and associates Laura Aristizábal and Christian Díaz.

Davis Polk’s team was represented by associate Charie Russak and counsel Mayer J. Steinman.

PPU’s team was led by partner Juan Fernando Gaviria, with support from associates Ana María Ramírez and Juliana Pérez.