Drokasa PCG

completed

Corporación Drokasa S.A. (the Corporación or the company) is a leading Peruvian agricultural and industrial conglomerate with three core activities: - the manufacture, marketing and sales of pharmaceutical products; - the production and export of asparagus and table grapes; - and the importation and distribution of chemicals, agrochemical, liquors and health and beauty products. The purpose of the project is to finance maintenance capital expenditure as well as to refinance Corporación and its subsidiaries’s outstanding short-term and long-term debt. The project will be funded through two components: - the issuance of a $25 million equivalent bond and a $5.0 million commercial paper program; and - Corporación’s internal cash generation. The existing debt is the result of a restructuring underwent in 2000 and currently imposes high interest rates and administration costs as well as covenants that inhibit long-term growth.