Hernandez & Cía. Abogados has acted as Peruvian legal counsel of the Ad Hoc Group of bondholders of Gildemeister, mainly represented by Elliot Management Corp. and Monarch Capital Group LLC. (“Bondholders”), in the financial restructuring of the US$400 million 8,250 % Senior Unsecured Notes due 2021 and the US$300 million 6,750% Senior Unsecured Notes due 2023, issued by Automotores Gildemeister S.A. through the execution of a Trust Agreement, governed by Peruvian law.
As local counsel of the Bondholder´s Ad Hoc Group, Hernandez & Cía advised the Bondholders in the negotiation and execution of the Trust Agreement over (i) the total shares issued by Automotores Gildemeister Perú S.A., Maquinaria Nacional S.A. and Motor Mundo S.A. (subsidiaries of Automotores Gildemeister S.A. in Peru) and (ii) the real estate owned by Automotores Gildemeister Peru S.A. and Automotores Gildemeister S.A. located in Peru.
The Trust Agreement was executed by Automotores Gildemeister S.A. (today known as Automotores Gildemeister S.p.A.), Automotores Gildemeister Peru S.A. and AG – Creditos S.p.A. as trustors, TMF Peru S.R.L. as beneficiary and La Fiduciaria as trustee.