Press Release
August 4, 2015

Peru’s Agroindustrial Paramonga S.A.A. Obtains Secured Loan

NEW YORK (August 4, 2015) – Holland & Knight advised Banco Latinoamericano de Comercio Exterior S.A. (Bladex) and Banco Santander Peru S.A., as joint lead arrangers, on a $40 million secured loan to Peruvian sugar cane producer Agroindustrial Paramonga S.A.A., an agricultural company operating in Peru since 1871 and listed on the Lima Stock Exchange. The transaction closed on July 15.

The loan was secured by certain of Paramonga’s real property in Peru, as well as by payment flows related to sales of products to certain major customers. The transaction involved modifying the existing trust (fideicomiso) which had been established for Paramonga’s existing debt to be repaid, to allow it to be secured in favor of the Collateral Agent on behalf of the new lenders. Furthermore, the loan consisted of two separate tranches, each having differing material terms.

Paramonga will use the proceeds from the loan to repay existing indebtedness as well as for general corporate purposes related to its sugar and other agricultural businesses. Bladex acted as both administrative agent and collateral agent.

Bladex and Banco Santander Peru were represented by Holland & Knight Partner Stephen Double and Associate Carlos Meza in New York.

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