Estudio Echecopar, member firm of Baker & Mckenzie International, has successfully advised Banco BBVA Perú and Banco de Crédito del Perú in the structuring of a syndicated loan for an aggregate principal amount of US$32MM granted to Administradora Jockey Plaza Shopping Center S.A. The loan will be used to (i) repay a syndicated loan granted by two financial entities in 2022 and (ii) prepay other short-term financial debt.

Within the framework of the aforementioned loan, a security was granted in favor of Banco BBVA Perú and Banco de Crédito del Perú through their incorporation as secured lenders under a Master Guaranty Agreement. To extend the guarantee to the lenders, several documents had to be executed, which included the participation of the Collateral Agent.

The structuring of the loan was particularly complex due to (i) the short time frame that the lenders had to disburse the loan in order to maintain the agreed-upon rate and (ii) the management of several parties participating in the loan, including the previous lenders, current lenders, and Collateral Agent.

Partner Alonso Miranda and associate Lara Sarlui advised the lender throughout the process.