Norton Rose Fulbright awarded Latin Lawyer ‘Deal of the Year’ for Lima Metro Line 2 securitization and ECA-backed credit facility financing

Global Press release - Recognition May 12, 2022

A global team of lawyers from Norton Rose Fulbright's São Paulo, New York, Washington, DC, Amsterdam and Milan offices has been recognized for its involvement in the securitization and ECA-backed credit facility project financing. The team was awarded "Deal of the Year" by Latin Lawyer in the Project Finance: Infrastructure category.

The Norton Rose Fulbright's team represented a syndicate of lenders, including Cassa Depositi e Prestiti, KfW IPEX-Bank, Société Générale, Banco Santander and Instituto de Crédito Oficial E.P.E. – ICO, in connection with the US$811 million syndicated credit facility backed by Italian export credit Agency SACE S.p.A which involved the securitization of Peruvian government-backed payment rights known as 'RPI-CAOs' for the extension of Lima Metro Line 2.

The sponsor team consisted of a consortium including Metro de Lima Línea 2 S.A., Iridium, Vialia, Cosapi, Webuild and Hitachi Rail. The loan will be used to finance the development and construction of the Lima Metro Line 2 and is the largest RPI-CAO deal to be financed under a credit facility financing.

Latin Lawyer identified landmark Latin American deals and cases across eleven categories and its editorial team selected the winning deals. The Norton Rose Fulbright team was awarded in the category of Project Finance: Infrastructure. Latin Lawyer announced the award at its 16th annual Deal of the Year Awards in São Paulo.

The Lima Metro Line 2 Project was also awarded Latin America Export Finance Deal of the Year by IJGlobal Awards for 2021.

Norton Rose Fulbright was also shortlisted in the restructuring category by Latin Lawyer for its involvement in the restructuring by Biosev, a Brazilian sugar ethanol producer and subsidiary of Louis Dreyfus, of its US$1.3 billion debt with a large group of international and Brazilian banks.

The team was led by Daniel Spencer with assistance from Cameron Dumans Royse, José A. Cobeña (São Paulo), Kenneth Hansen (New York), Kim Caine (Washington, DC), Arturo Sferruzza (Milan), Bart Le Blanc and Joris Ravelli (Amsterdam).