HERNÁNDEZ & CÍA ABOGADOS ADVISED BANCO SANTANDER S.A. IN THE TOTAL REPAYMENT OF THE FINANCING OF US$ 200,000,000 GRANTED IN FAVOR OF CONCESIONARIA VIAL SIERRA NORTE S.A.

Hernández & Cía Abogados (Peru) and Clifford Chance (USA) advised Banco Santander, S.A., acting as Mandated Lead Arranger, and the Corporación Andina de Fomento, Banco Santander, Sumimoto Mitsui Banking Corporation, and the Instituto de Crédito Oficial, acting as Existing Lenders, in the total repayment of the financing granted by the Existing Lenders in favor of Concesionaria Vial Sierra Norte S.A., concessionaire of the “Longitudinal de la Sierra Tramo 2: Cuidad de Dios – Cajamarca – Chiple, Cajamarca – Trujillo y D. Chilete – Emp. PE 3N”, by means of a Credit Agreement dated May 21, 2015, for an amount of US$ 200 million, as well as in the release of the existing collateral.

The funds for the repayment of the financing were obtained by simultaneosly entering into a new financing that consisted on Concesionaria Vial Sierra Norte S.A. selling its ""PAMPI Rights"" in favor of Longitudinal 2 PAMPI Funding BV, a private company with limited liability (besloten vennootschap) incorporated under the laws of The Netherlands, company that issued notes pursuant to Rule 4(a)(2) of the United States Securities Act of 1933 for approximately US$ 350’000,000.00, guaranteed by the ""PAMPI Rights"" acquired from the concessionaire. 

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