Rebaza, Alcázar & De Las Casas advised Acceso Crediticio S.A. (“Acceso”), in the review and negotiation -as far as aspects of Peruvian legislation are concerned- of general agreements for the restructuring of Acceso’s financial debt of more than US$ 200,000,000 (Two hundred million and 00/100 Dollars of the United States of America) with more than thirty (30) international financial lenders (the “Lenders”); agreements that were executed by the end of July 2024 between Acceso, the Lenders, ID Inspiring Development GMBH (acting as administrative agent and representative of the Lenders), among others, and subject to the laws of the State of New York, United States of America (the “Agreements”).
Acceso, incorporated under the laws of the Republic of Peru, is a company that until the beginning of September 2023, had an authorization from the Peruvian Superintendence of Banking, Insurance and AFP to operate as a non-authorized financial system entity to take deposits from the public, and has been offering financial intermediation mainly for the financing of the acquisition of motor vehicle for private purposes and also for taxi use.
The Agreements consisted of establishing terms and conditions that allow the Lenders to decide in their best interest the mechanisms for the recovery of their debts either through negotiations for a potential debt restructuring or through the structuring and implementation of an ordered procedure for the wind down of the current portfolio of Acceso under the control and supervision of the Lenders.
Our advisory services included not only the negotiation of the Agreements but also the structuring, preparation and negotiation of all the documents related to the Lenders’ alternative linked to the wind down of Acceso’s portafolio.