Estudio Echecopar, member firm of Baker & McKenzie International advised Citibank del Perú S.A. as project trustee and Citibank N.A. as account bank in a USD 811 million off-balance sheet Export Credit Agency backed-financing granted to Metro de Lima Linea 2, backed by Peruvian government payments (RPI-CAOs), under the Lima Metro Line 2 Project. This is one of the only RPI-CAO export credit financings and the largest RPI-CAO transaction ever financed under a loan format in Peru.
This transaction has been awarded with the Project Finance: Infrastructure Deal of the Year in the Latin Lawyer Deal of the Year Awards 2021. Latin Lawyer selected winning deals for its 16th annual Deal of the Year Awards based on "truly novel legal work at a level of complexity that broke new parameters."
Under the 35-year concession agreement, 35 km of subway lines will be built, with a total investment of approximately USD 5.5 billion. The highly ambitious infrastructure PPP project earned recognition for its impact and significance.
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