HERNÁNDEZ & CÍA. ABOGADOS ADVISED THE INITIAL INVESTORS IN THEIR PARTICIPATION IN THE FIRST PRIVATE PLACEMENT IN THE PERUVIAN TRANSPORT INFRASTRUCTURE MARKET, THROUGH THE ACQUISITION OF THE NOTES ISSUED FOR APPROXIMATELY US$ 350’000,000

Hernández & Cía. Abogados (Peru), Shearman & Sterling (New York) and Hogan Lovells (The Netherlands) advised the Initial Investors (Purchasers) in the first Private Placement in the Peruvian transport infrastructure market and the only infrastructure securitization in Peru since 2015, through the acquisition of notes issued for approximately US$ 350’000,000.00, pursuant to Rule 4(a)(2) of the United States Securities Act of 1933, by Longitudinal 2 PAMPI Funding B.V., a private company with limited liability (besloten vennootschap) incorporated under the laws of The Netherlands. 
The issuance is collateralized by “PAMPI Rights”, purchased by the issuer from Concesionaria Vial Sierra Norte S.A. The PAMPI Rights are payment obligations of a Peruvian Trust that mirror irrevocable, unconditional Peruvian Government payments named “PAMPI” originated under a Concession Agreement, that shall be paid by the Republic of Peru in favor of Concesionaria Vial Sierra Norte S.A., as compensation for the execution of “Mantenimiento Periódico Inicial” works in the project named “Longitudinal de la Sierra Tramo 2: Cuidad de Dios – Cajamarca – Chiple, Cajamarca – Trujillo y D. Chilete – Emp. PE 3N”. Such payment obligation is contemplated pursuant to a Concession Agreement entered into by Concesionaria Vial Sierra Norte S.A. and the Republic of Peru; and, shall be made through a Peruvian trust managed by La Fiduciaria S.A.
The transaction was subject to New York, Peruvian and Dutch law and involved 6 law firms.

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