Hernández & Cía. advised Banco BBVA Perú in the structuring of a US$ 60,000,000.00 long-term sustainable loan facility governed by Peruvian law in favor of LatAm Logistic Per Propco Lurin I S.R.L. (“Latam”). The proceeds of the loan were used, inter alia, to repay an existing debt granted by the International Finance Corporation – IFC and to make real estate investments, in order to finalize the construction and commercialization of its first logistics park in Peru. This park has Edge and Edge Advanced certifications, which guarantee an efficient sustainable construction with energy, water and material savings options.
The operation was carried out under the KPI Linked Loan modality, through which an agency specialized in sustainability has established as an indicator the adequate management of usable waste. Thus, the commercial conditions of the loan are subject to compliance with this KPI, so that the borrower must have a ratio of 50% of usable waste managed by 2030, generating an environmental, social and economic impact.
Latam is a leading developer, owner, and manager of modern and sustainable logistics real estate in the Andean and Central American regions.
The long-term loan is secured by a trust over two properties owned by Latam, and by a trust over the cash flows arising from lease agreements entered into with third parties with respect to the properties in trust.
Our team provided advisory services:
