Agrícola Cerro Prieto’s $160 Million Green Loan

Miranda & Amado advised Agrícola Cerro Prieto S.A. and Qali Fruits S.A.C. on the transaction.
Estudio Echecopar (Baker McKenzie) and Baker McKenzie advised Banco Internacional del Perú S.A.A. – Interbank, Banco BBVA Perú S.A. and BID Invest.

The Company is a fruit and vegetable agro-export company, specifically in grapes, asparagus, avocados and blueberries, for which a Senior Loan for up to US$160 million will be structured to be granted as follows: (i) IDB Invest for up to US$50 million; (ii) Interbank for up to US$60 million; and (iii) BBVA for up to US$50 million. The uses of financing funds are: (i) US$110 million for investments in the expansion of the Company’s operations in Peru and its internationalization in Colombia; and (ii) US$70 million to refinance the existing debt, mainly the exposures of Interbank and BBVA to homogenize terms and conditions with the new financing. Additionally, an uncommitted tranche of up to US$20 million from IDB Invest is included for new investments in Colombia in the 2022 and 2023 years.

Miranda & Amado advised Agrícola Cerro Prieto S.A. and Qali Fruits S.A.C. with Juan Luis Avendaño Cisneros (Picture), Álvaro Del Valle Roeder and Pablo Cassinelli Gubbins.

In Perù, Estudio Echecopar ( Baker McKenzie) advised Banco Internacional del Perú S.A.A. – Interbank, Banco BBVA Perú S.A. and BID Invest with  Marco Alarcón Piana, Luis Ernesto Marín Villarán, Natalia Zúñiga Arbildo, Adrián Tovar Ayllón, Silet Becerra Orihuela and Katherine Ninanya.

In Colombia, Baker McKenzie advised Banco Internacional del Perú S.A.A. – Interbank, Banco BBVA Perú S.A. and BID Invest with Carolina Duque,  Camila Jiménez, María Camila Vargas and Joshua Daza.

Involved fees earner: Marco Alarcon – Baker McKenzie; Silet Becerra Orihuela – Baker McKenzie; Joshua Daza – Baker McKenzie; Carolina Duque – Baker McKenzie; Camila Jiménez – Baker McKenzie; Luis Ernesto Marín Villarán – Baker McKenzie; Katherine Ninanya – Baker McKenzie; Adrian Tovar Ayllón – Baker McKenzie; Maria Camila Vargas Ruiz – Baker McKenzie; Natalia Zúñiga Arbildo – Baker McKenzie; Juan Luis Avendaño – Miranda & Amado Abogados; Pablo Cassinelli Gubbins – Miranda & Amado Abogados; Álvaro del Valle Roeder – Miranda & Amado Abogados;

Law Firms: Baker McKenzie; Miranda & Amado Abogados;

Clients: Agrícola Cerro Prieto S.A.; Banco BBVA Perú; Banco Internacional del Perú S.A.A. – Interbank; IDB Invest;