We advised Scotiabank Perú on a financing granted to Corporación Aceros Arequipa S.A.A. in an amount of up to S/ 107.7 million. The financing was granted to Corporación Aceros Arequipa S.A.A., a leading company in Peru’s steel industry. Our advice covered the structuring, closing and disbursement of the loan, as well as the legal due diligence of the borrower. The transaction involved a high level of complexity, as it required adherence to a trust over a going concern that was subject to multiple financings granted by different banks.
In this context, a detailed review of the creditor framework was required, as well as the mechanism through which the new lender would be incorporated into the security structure as part of the pool of secured assets, given the active nature of the collateral.
The PRCP team in charge of the matter was led by partner Giovanna García and included Rocío Gordillo and Fernando Díaz.
