Clifford Chance Advises Ecuadorian Airport Concessionaire Quiport on US$500 Million Debt Issuance and Concurrent Consent Solicitation

Clifford Chance advised Corporación Quiport S.A. (Quiport) as issuer in connection with its offering of senior secured notes and also advised International Airport Finance, S.A. (IAF) in a concurrent consent solicitation to the noteholders of its existing notes. The transaction comprised an issuance by Quiport of US$300 million aggregate principal amount of 9.000% senior secured notes due 2037 and, concurrently, a credit agreement between Quiport and certain Ecuadorian lenders for an aggregate principal amount of US$200 million. The Notes are secured by a first‑priority interest in certain assets, including an assignment of trust beneficiary rights and a 100% pledge over the equity interests in Quiport. Proceeds of the Notes and the Ecuadorian loans were used in part to refinance Quiport’s existing debt with its affiliate IAF and to redeem IAF’s outstanding 12.000% senior secured notes due 2033. Clifford Chance also advised in IAF’s concurrent consent solicitation to the holders of the Existing Notes in connection with the waivers required under existing agreements to permit these transactions. Clifford Chance represented Corporación Quiport S.A. and International Airport Finance, S.A. with a team composed by: Partner Mariana Estévez and Associate Paula Ferreira, with support from Associates Julián Hurtado Vallejo, David Rondon, Cristian Ragucci and Pedro Vasques Milhinhos. Tax matters were handled by Partner Avrohom Gelber with Associates Joshua Thomas and Kade Moural. ERISA matters were advised by Partner Paul Koppel with Associates Thomas Koh and Ivona Dimov. Investment Company Act matters were advised by Partner Jefferey LeMaster with Associate Emily Picard.

Clifford Chance Advises Ecuadorian Airport Concessionaire Quiport on US$500 Million Debt Issuance and Concurrent Consent Solicitation

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads