$110M Bond Sale Finances Peru Port Expansion

Law360, New York (April 24, 2012, 6:36 PM EDT) -- The operator of Peru's Port of Paita issued $110 million worth of senior secured notes to finance the first phase of a $293 million expansion project, according to an announcement Tuesday.

The notes, which will mature in 2037, represent the first port-related project bond financing in Latin America, according to a statement issued Tuesday by DLA Piper, the firm that represented port operator Terminales Portuarios Euroandinos Puerto de Paita SA in the bond issuance.

The bond proceeds will be used to dredge the port, which is...
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