Latham Advises International Lenders on US$475 Million Bridge Financing for Petroperu

Petroperu Invest S.A.C., a subsidiary of Petroperu, secured a US$475 million bridge financing from Citi and J.P. Morgan. The bridge represents the first step in a broader transaction of up to US$2 billion to strengthen Petroperu’s financial and operating condition. The proceeds of the bridge financing will be made available through a trust administered and supervised by ProInversión and will be used to meet crude oil procurement needs, essential services, and other obligations necessary for Petroperu’s operations, thereby helping ensure business continuity and the supply of fuel to the domestic market.

Latham & Watkins LLP advised the arrangers and lenders on the transaction with a Latin America team led by partner Guido Liniado, with associates Andres Chester, Rafael Grillo Avila, and Dorian Refloc’h, with assistance from international visiting associate Rodrigo Vazquez Sainz. Advice was also provided on tax matters by partner Elena Romanova, with associate Shangpu (Nicholas) Sun; on funds regulatory matters by partners Laura Ferrell and Jennifer Tian; on financial regulatory matters by partner Arthur Long and counsel Pia Naib; on ERISA matters by counsel Aryeh Zuber; and on compliance matters by partners Andrew Galdes and Matthew Salerno.