Edpyme Acceso Crediticio’s $200 Million Debts Restructuring

Linklaters and Rebaza, Alcázar & De Las Casas advised Edpyme Acceso Crediticio on the deal.
DLA Piper advised the lenders.

A group of approximately 20 lenders, composed of multilaterals, export credit agencies (ECAs), commercial banks and other institutional lenders, completed the negotiation and execution of a debt restructuring common terms agreement with Edpyme Acceso Crediticio, governed by New York law.

The purpose of the agreement is to implement a financial restructuring of the obligations under the various loan agreements entered into with each of the lenders, allowing Edpyme Acceso Crediticio to address the impact of the COVID-19 pandemic on its activities and continue with its business.

The transaction closed on December 20, 2021. The amount of the restructured indebtedness was approximately US$200 million, which resulted in an unprecedented deal in the Peruvian microfinance sector and a cross-border landmark transaction in Peru.

Edpyme Acceso Crediticio is a Peruvian financial institution with more than 17 years of experience in the Peruvian microfinance sector and is a leader in the provision of financial services for the purchase of vehicles through a network of branches in eight regions of Peru.

Linklaters advised Edpyme Acceso Crediticio S.A. with a team including Michael Bassett (Picture), Alejandro Gordano and Hwan Choi.

In Perù, Rebaza, Alcázar & De Las Casas advised Edpyme Acceso Crediticio S.A. with a team including Rafael Alcázar and Ana María Sánchez.

DLA Piper advised the lenders with Margarita Oliva Sainz de Aja, Craig Martin, Sergio Barboza Beraún, Melissa Padilla, Daiana Suk, Juan María Rosatto and María Emilia Díaz.

Involved fees earner: Margarita Oliva Sainz de Aja – Baker McKenzie; Maria Emilia Diaz – DLA Piper; Craig Martin – DLA Piper; Juan María Rosatto – DLA Piper; Daiana Suk – DLA Piper; Sergio Barboza – DLA Piper – Peru; Melissa Padilla – DLA Piper – Peru; Michael Bassett – Linklaters; Hwan Choi – Linklaters; Alejandro Gordano – Linklaters; Rafael Alcázar – Rebaza Alcazar and De Las Casas; Ana María Sánchez – Rebaza Alcazar and De Las Casas;

Law Firms: Baker McKenzie; DLA Piper; DLA Piper – Peru; Linklaters; Rebaza Alcazar and De Las Casas;

Clients: Edpyme Acceso Crediticio S.A. ; Export Development Canada; International Finance Corporation; Scotiabank; Société Générale;

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Author: Ambrogio Visconti