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Clifford Chance advises PETROPERU on successful consent solicitation to noteholders

June 26, 2023

Clifford Chance advises PETROPERU on successful consent solicitation to noteholders

New York: International law firm Clifford Chance advised Petróleos del Perú – Petroperú S.A. (PETROPERÚ) in connection with the successful consent solicitation directed to the holders of its 4.750% Notes due 2032 and 5.625% Notes due 2047 (together, the Notes).

PETROPERÚ (i) launched a consent solicitation directed to holders of the Notes, (ii) obtained the requisite consents from holders to amend certain provisions of the indentures governing the Notes, and (iii) entered into supplemental indentures which will become operative, upon payment of a customary consent fee, only if PETROPERÚ fails to deliver its audited financial statements for fiscal year 2022 by the end of July 2022.

The Clifford Chance deal team included partner Hugo Triaca, associate Joyce Moore and law clerk Maria Fernanda Gadea Rivera in New York.

Clifford Chance advises on many liability management transactions in Latin America, including on AES El Salvador's liability management transaction.