Advises The Ad Hoc Group Of Bondholders Of Gildemeister, Main Distribuitor Of Hyundai Vehicles In Chile And Peru In The Financial Restructuring Of The International Debt In The Securities Market Of Automotores Gildemeister S.A., For A Total Amount Of US$7
Hernandez & Cía. Abogados has acted as Peruvian legal
counsel of the Ad Hoc Group of bondholders of Gildemeister, mainly
represented by Elliot Management Corp. and Monarch Capital Group
LLC. ("Bondholders"), in the financial restructuring of
the US$400 million 8,250 % Senior Unsecured Notes due 2021 and the
US$300 million 6,750% Senior Unsecured Notes due 2023, issued by
Automotores Gildemeister S.A. through the execution of a Trust
Agreement, governed by Peruvian law.
As local counsel of the Bondholder´s Ad Hoc Group, Hernandez & Cía advised the Bondholders in the negotiation and execution of the Trust Agreement over (i) the total shares issued by Automotores Gildemeister Perú S.A., Maquinaria Nacional S.A. and Motor Mundo S.A. (subsidiaries of Automotores Gildemeister S.A. in Peru) and (ii) the real estate owned by Automotores Gildemeister Peru S.A. and Automotores Gildemeister S.A. located in Peru.
The Trust Agreement was executed by Automotores Gildemeister S.A. (today known as Automotores Gildemeister S.p.A.), Automotores Gildemeister Peru S.A. and AG – Creditos S.p.A. as trustors, TMF Peru S.R.L. as beneficiary and La Fiduciaria as trustee.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.