Rebaza, Alcázar & De Las Casas advised Scotiabank Perú as arranger of the First Corporate Bond Program of Interconexión Electrica ISA Perú – ISA Energía on the Institutional Investors Market, and its first issue, for PEN 208,405,000.00 million (approx. US$ 61.7 million), achieving demand 2.07 times greater than the amount offered. The bonds were placed on October 4, 2025, and were offered exclusively to institutional investors (pension funds, insurance companies, and other sophisticated domestic and foreign investors).
Our advice involved a full due diligence on ISA Energía, as well as legal support in the structuring and negotiation of the Program and Issue terms, and in the bonds’ placement process.
In this regard, our services had a significant regulatory component, with special emphasis on compliance with legal and operational requirements for the registration and listing of the bonds, and the reporting obligations before the SMV.
This transaction required, with respect to the due diligence, a comprehensive review of ISA Energía's complex structure of electricity transmission assets and licenses; and, with respect to the placement process, constant coordination between both teams and the SMV in order to resolve several operational limitations arising during said process. The transaction marks a milestone in the Peruvian capital market by consolidating the institutional segment as a platform for long-term infrastructure issuances.