35MM bond issuance by Pluspetrol Norte S.A. is performed successfully

On August 2004, Pluspetrol Norte S.A. achieved the successful placement of US$35 million in corporate bonds. Said issuance was structured by Banco de Crédito del Perú.

The referred debt instruments were placed at a par value of US$1,000 each. The payment term established therefor was 59 months, to be paid in 59 monthly coupons, with amortizations of the principal amount as from the twelfth month. Bonds were awarded at a 5.50% rate.

The Bonds were rated as AA+(pe) by the Apoyo & Asociados Internacionales S.A.C. rating company and as pAA by Pacific Credit Rating Clasificadora de Riesgos S.A.C., ratings that reflect a very high capacity of timely payment and a very low credit risk.

Partner Juan García Montúfar and associate Thomas Thorndike of Rubio, Leguía, Normand & Asociados participated as advisors of Banco de Crédito del Perú for the structuring of the collateral package set as security for the indebtness.

Pluspetrol Norte S.A. was advised by associates Ricardo Escobar and Isabel Gutiérrez, from Muñiz, Forsyth, Ramírez, Pérez-Taiman & Luna-Victoria. Fernando Fresco, was the in-house lawyer of Pluspetrol working on the deal.