Rebaza, Alcázar & De Las Casas advised Fondo MiVivienda S.A. (FMV), as borrower of a financing involving two loans: (i) loan for up to 551.55 million Soles (approximately US$ 150 million), and (ii) second loan for up to US$ 150 million; both granted by JP Morgan Chase Bank and secured by the Multilateral Investment Guarantee Agency (MIGA), as part of the same financing.
The funds raised by FMV will be used to finance housing projects under its sustainable housing programs:
- MiVivienda Sostenible: Subsidized mortgage loans for the acquisition of sustainable housing, with eligibility criteria based on renewable energy sources and water consumption.
- Financiamiento Complementario Techo Propio: Subsidized mortgage loans aimed exclusively at vulnerable and low-income families to enable them to purchase, build or improve their homes, and include basic services.
- Nuevo Crédito MiVivienda: Subsidy aimed at financing mortgage loans to purchase, build or improve homes.
FMV is committed to allocate, to the extent possible, at least 50% of the funds obtained to finance mortgage loans granted to Peruvian women.
Legal advisors to Fondo MiVivienda
New York counsel:
Simpson Thatcher & Bartlett LLP
Partner Juan Francisco Méndez, senior counsel Kirsten L. Davis, and associates Laura Grisales and Enrique Güijosa.
Peruvian counsel:
Rebaza, Alcázar & De Las Casas
Partner Rafael Alcázar, senior associate Fiorela Ccahua and associate Valeria Sánchez.
Legal advisors to JP Morgan Chase and the MIGA
New York counsel:
Norton Rose Fulbright US LLP
Partner Daniel Spenser, and counsel Jose Cobeña.
Peruvian counsel:
Rodrigo, Elías & Medrano Abogados
Partner Nydia Guevara and associate Sebastián Briceño