RC LAW ADVISED AZVI IN SECURING A $20 MILLION CONFIRMING LINE FROM IDB INVEST FOR ITS OPERATIONS IN LATIN AMERICA

RC Law acted as New York counsel for Azvi (Spain) and subsidiaries in Mexico and Chile, Construcciones Urales, in connection with a financing facility granted by IDB Invest, the private sector arm of the Inter-American Development Bank, of up to US$20 million to provide supply chain payment services. This confirming line governed by New York law will provide Azvi’s suppliers with an innovative solution to finance their working capital needs by using the E-Factor Network platform. With headquarters in Sevilla, Azvi is a key player in the railway infrastructure industry (including tracks, electrification, signaling and machinery) in Spain and more recently in United States and Latin America. It also develops civil construction and engineering projects, including roads, ports, airports, bridges, tunnels and residential and industrial buildings.

RC LAW ACTED AS NEW YORK COUNSEL TO COMPLEJO AGROINDUSTRIAL BETA OF PERU IN THE REFINANCING OF A $111,800,000 LOAN FROM METLIFE 

RC Law advised Complejo Agroindustrial Beta, as borrower’s New York counsel with regard to the refinancing of a $111,800,000 facility to be used to acquire agriculture property and crops, as well as to finance capital expenses. The refinancing involved expanding the facility by up to $20,000,000. Lender was Metropolitan Life Insurance Company of New York.  Borrower’s Peruvian counsel was Miranda & Amado and Lender’s Peruvian counsel was Denton’s Lima office and its New York counsel was Denton’s New York office. Complejo Agroindustrial Beta is a Peruvian agribusiness group which is involved in the growing, packing and export of fresh products, including asparagus, grapes, citrus and avocado.

RC LAW ACTED AS NEW YORK COUNSEL TO PESQUERA EXALMAR OF PERU IN CONNECTION WITH A $20 MILLION IDB INVEST SENIOR SECURED FINANCING

RC Law advised Pesquera Exalmar S.A.A., as borrower’s New York counsel, in connection with a senior secured $20 million loan from the Inter-American Investment Corporation (the private branch of the IDB).  The funds are to be used to finance capital expenses and structural working capital needs of the borrower.  Exalmar is one of the largest Peruvian fisheries and is listed in the Lima Stock Exchange (“Bolsa De Valores De Lima”). Peruvian counsel was Miranda & Amado.  IDB Invest’s New York counsel was Bustamante Fabara and Peruvian counsel was Garrigues.

Press release >

RC LAW ACTED AS NEW YORK COUNSEL TO GLOBAL QUALITY STEEL ON A $50 MILLION SENIOR SECURED PROJECT FINANCE FOR SEVERAL LATIN AMERICAN INFRASTRUCTURE PROJECTS

RC Law acted as New York counsel to Global Quality Steel S.A. (“GQS”), a Swiss global reinforcing steel manufacturer in connection with a $50 million long term facility.  GQS designs, supplies, manufactures, and delivers comprehensive and customized solutions for steel engineering needs in large civil engineering projects in the construction industry.  GQS has subsidiaries in Mexico, Panama, Colombia, Ecuador and Peru. The purpose of the facility was to provide initial financing to meet the requirements of various infrastructure projects in Latin America, which were awarded to GQS by the project sponsors.  Such projects include Lima Metro Line 2 in Peru, Siervo de la Nacion Highway, Guadalajara Metro L-3 and Toluca Railroad in Mexico, Quito Metro L-1 in Ecuador and Magdalena Highway in Colombia, as well as other smaller projects in Latin America, for a total of around US$ 500 million contract value. Corporación Interamericana para el Financiamiento de Infraestructura, S.A. (“CIFI”) acted as mandated lead arranger and Hunton & Williams LLP, acting as CIFI’s New York counsel. 

Press release >

RC LAW ADVISED ABENGOA PERU ON THE RESTRUCTURING OF THEIR DEBT WITH FUNDING OF $30 MILLION

RC Law advised Abengoa Peru on a $30 million long term financing used to re-financing existing debt and financing new operations. Abengoa Peru is the Peruvian leader in O&M contracts for high voltage transmission systems and one of the leading local companies in the construction of mining, water and energy projects. The lender was Darby Overseas Investments, an entity owned by the US fund Franklin Templeton Investments. New York counsel to Darby was Clifford Chance, while Echecopar Baker & McKenzie acted as Peruvian counsel. Rebaza Alcazar & De Las Casas acted as Peruvian counsel for Abengoa Peru. 

Press release >

RC LAW ACTED AS NEW YORK COUNSEL TO GLOBAL QUALITY STEEL ON A $15 MILLION SENIOR SECURED REVOLVING FINANCING IN CONNECTION WITH THE QUITO METRO L1

RC Law acted as borrower’s New York counsel to Global Quality Steel S.A., a Swiss steel manufacturing and engineering group in connection with a short-term, revolving facility to meet the requirements of Line 1 of the Quito Metro project in Ecuador. The facility was secured with the accounts receivable from the consortium developing the Quito Metro project.  Corporación Interamericana para el Financiamiento de Infraestructura, S.A. (“CIFI”) acted as mandated lead arranger and Andrews & Kurtz LLP in Washington DC, acted as CIFI’s New York counsel.

Press release >

RC LAW ADVISED CAIXABANK IN THE REFINANCING OF A REAL ESTATE BACKED LOAN TO PROCELANOSA

RC Law acted as New York counsel to CaixaBank, largest Spanish bank by assets under management, in the refinancing of a $13 million real estate backed loan to Porcelanosa, a leading Spanish tiles and mosaics group with presence in New York.

RC LAW ACTED AS NEW YORK COUNSEL TO ROBERLO USA AS GUARANTOR OF A EUR 33 MILLION FACILITY

RC Law acted as New York counsel to Roberlo USA, as guarantor to the €33 million syndicated loan obtained by its parent company, Briolf Group to refinance existing debt and to complete the acquisition of a local competitor.  The Roberlo Group is a European leading manufacturer of coatings and other repair solutions for the vehicle and other industries. The loan was governed by Spanish law.  Spanish Counsel to the lead arranger, Banco Santander S.A., was DLA Piper Spain.  Other lenders included CaixaBank, Banco Sabadell, BBVA, Banca Marc, Bankia and Banco Caixa Geral.

RC LAW ADVISED CECOP IN THE ACQUISITION FINANCE OF A $7 MILLION REVOLVING LINE OF CREDIT 

RC Law advised CECOP in an acquisition finance transaction, consisting of an up to $7,000,000 revolving line of credit secured with the assets of the target company.  Lender was Village Bank & Trust of Illinois.  Counsel to lender was Dykema Gossett of Chicago.