Clifford Chance

Clifford Chance advises Itaú and Banco Santander on syndicated loan for real estate companies in Peru

Global law firm Clifford Chance advised Banco Santander, S.A. and Banco Itaú Chile, as co-lead arrangers and bookrunners, in connection with a US$350 million syndicated loan by Banco Santander, S.A., Banco de Crédito e Inversiones, Miami Branch, The Bank of Nova Scotia, Banco Pichincha, Banco Internacional del Perú S.A.A. - Interbank, ICBC Perú Bank and Itaú Chile New York Branch, in favor of Urbanizadora Jardín, Inmuebles Limatambo, and Inversiones San Borja, Peruvian real estate companies under the management of Urbanova.

The proceeds of the loan were used to refinance existing debt and support the development of new corporate projects.

The Clifford Chance team advising on the transaction was led by counsel Alberto Haito, with support from associate Maria Fernanda Gadea Rivera.

Haito commented, "We are delighted to have once again supported our clients in securing a significant financing for Urbanova. This achievement illustrates our experience advising on cross-border financings in Peru."

Clifford Chance advises on complex financings across Latin America, including recently advising Sumitomo Mitsui Banking Corporation on a syndicated loan for a renewable power company in Peru.