Our firm is currently providing advice to IBT Health (the Borrower), Villa María del Triunfo Salud, Callao Salud and other entities of IBT Group in connection with a medium-term loan financing that will be supported by cash flows (RPO) paid to Villa María del Triunfo Salud and Callao Salud (the “Operators”), who entered into certain PPP contracts with the Peruvian social security (ESSALUD) in order to design, build, equip, operate and maintain the two hospitals located in Lima, Peru. Pursuant to each PPP contract, the Operators are entitled to payments for the provision of healthcare services and payments for the operation and maintenance of the hospitals. Also, the Operators entered into a series of servicing contracts with IBT Health for the provision of certain health and administrative services. Payments under such servicing contracts (FCRs) will be used to secure and repay the term loan financing. The transaction structure is complex and comprises a loan agreement, a corporate guarantee granted by the sponsors, a pledge agreement and most importantly a collection trust agreement that will collect and administer RPO cash flows from an existing trust created by ESSALUD, and make FCR and debt services payments.
Matter value: US$ 40,000,000 (forty million United States dollars)