We advised Bank of America on the first international bond placement of Luz del Sur S.A.A. in the aggregate amount of S/ 1,380 million. The transaction involved the first international bond issuance by Luz del Sur S.A.A., one of Peru’s leading electricity companies, for a total amount of S/ 1,380 million (approximately US$396 million), with a yield of 6.75%. The offering was carried out under a Rule 144A/Regulation S format and achieved an oversubscription of 1.6 times, reaching total demand of S/ 2,200 million. This result reflects strong international investor confidence in both Luz del Sur’s financial profile and the regulatory stability of the Peruvian electricity sector. The placement was globally coordinated by BofA Securities, J.P. Morgan and Santander.
Our advice included comprehensive local law support to Bank of America in connection with the structuring and execution of the transaction, within the applicable cross-border capital markets regulatory framework.
The PRCP team in charge of the matter was led by partner José Cúneo and included Mario Lercari and María Fernanda Ríos.
