GyM Ferrovias S.A. Secures Financing for Expansion of Lima, Peru Metro

August 25, 2017

NEW YORK – Paul Hastings LLP, a leading global law firm, announced today that the firm represented GyM Ferrovias S.A. (“GyMF”), a subsidiary of the Peruvian construction company Graña y Montero S.A.A., in financing the expansion of Line 1 of the Lima Metro, a light rail system already revolutionizing travel in congested Lima, Peru. GyMF recently completed the construction of Line 1 and currently operates it pursuant to a concession from the Peruvian government. The expansion is expected to help Line 1 meet increasing ridership demands after its immediate popularity. The transaction consisted of multiple tranches involving several forms of financing, which are secured by payment obligations of the Peruvian government.

Latin America and Finance partner Cathleen McLaughlin led the Paul Hastings team, which also included associates Yana Lantsberg, Alex Herman, Inho Ko, Matthew Turner and Maria Leonor Tobia.

Mizuho Securities USA LLC and Mizuho Bank Ltd. served as structuring agents on the $316 million financing. Mizuho Bank Ltd. served as administrative agent, and Mizuho Bank Ltd. and Sumitomo Mitsui Banking Corporation served as mandated lead arrangers, which will enable GyMF to acquire 20 new trains, 39 new train cars, and improve and expand five train stations, among other improvements. The financing closed on August 23, 2017.

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