Hernández & Cía. Abogados advised Citibank del Perú S.A., as collateral agent, in the process of the issuance of international corporate bonds of Kallpa Generación S.A. (one of the largest private owned electricity company of Peru), which comprised the termination of inter-creditor agreements and a security package that were set up in favor its financial creditors. The proceeds of the issuance were mainly used to prepay current financial obligations of the company, that were secured by a asset trust agreement and a cash flow trust agreement. After the prepayment, Kallpa Generación S.A. will cease to secure its current financial obligations with specific securities.
The deal closed on May 25th, 2016.