A&O Shearman Advises Peru’s Luz del Sur on its First International Bond Offering for $397 Million

A&O Shearman represented Luz del Sur S.A.A. in connection with its first-ever international bond offering of PEN1.38bn (approximately USD397m) 6.750% senior notes due 2032.

Luz del Sur intends to use the net proceeds from the offering to refinance existing financial debt and for general corporate purposes.

Luz del Sur is one of the largest electricity distribution companies in Peru, with its concession area spanning more than 3,500 square kilometers and encompassing 65 districts of Metropolitan Lima, as well as the provinces of Cañete and Huarochirí.

"We are pleased to continue building on our strong momentum in Peru, having advised on seven bond issuances in the country alone this year," said Alejandro Gordano, A&O Shearman capital markets lead partner. "This transaction signals strong investor confidence in Peru’s essential infrastructure and local-currency capital markets."

The A&O Shearman team was led by capital markets partner Alejandro A. Gordano and included capital markets associate Gonzalo Robles, capital markets visiting attorneys Moises Gonzalez, Regina Odar, and Mariana Lobato, tax partner Lorenz Haselberger, and tax associate Daniel Kachmar.

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