Norton Rose Fulbright named among winners for LatinFinance’s Structured Financing Deal of Year

Global Press release - Business February 11, 2020

A Rule 144A/Reg S bond offering for the concessionaire of Line 2 of the Lima, Peru, subway system on which Norton Rose Fulbright served as counsel to Goldman Sachs and J.P. Morgan recently won LatinFinance's Structured Financing Deal of the Year.

A cross-border team of Norton Rose Fulbright lawyers advised the investment banks that underwrote US$563 million in bonds that will partly finance the expansion of the subway system in Lima.

LatinFinance editors selected winners of its 2019 Deals of the Year awards based on a deal's size, complexity, innovative elements, market significance and execution. The editors also consulted extensively with a range of industry experts.

The team represented Goldman Sachs and J.P. Morgan, global coordinators and joint bookrunners of the bonds sold by Lima Metro Line 2 Finance II Limited, the concessionaire for the subway line, known as Line 2 of the Lima public transit system's five-line project.

Goldman Sachs and J.P. Morgan sold the bonds to more than 80 buyers, including institutional investors, and the deal was seven times oversubscribed.

A portion of the 35-kilometer Line 2 is slated to open in 2021, with completion of the line not expected until 2024. The US$563 million in bonds will pay for only part of Line 2. Total construction costs are expected to reach US$4.5 billion.

The cross-border team was led by Daniel Spencer (Sao Paulo) and George Baptista (New York) and included Manny Rivera and Javier Felix (New York).


Partner, Norton Rose Fulbright US Consultores em Direito Estrangeiro