Latin Counsel | Shearman & Sterling advises on s/1.2 billion securitization and bond offering by the Metropolitan Municipality of Lima

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Peru

Shearman & Sterling advises on s/1.2 billion securitization and bond offering by the Metropolitan Municipality of Lima

December 28, 2023

Shearman & Sterling represented Credicorp Capital Sociedad Titulizadora S.A., as trustee and issuer on behalf of the special purpose vehicle created for the securitization program of up to S/4.0 billion Alcabala Tax and Motor Vehicle Tax by the Metropolitan Municipality of Lima, of which the S/1.2 billion (approximately US$325 million) were issued in a transaction that closed on Dec. 27, 2023.

The first issuance is intended to finance a portfolio of 42 prioritized investment projects which will contribute to closing gaps in infrastructure and public services and repay existing indebtedness.

The Shearman & Sterling team was led by partners Alejandro A. Gordano and Manuel Orillac, alongside associate Gonzalo Robles and visiting attorney Marcello Mammocci Pompilio.

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