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Green Evaluation: Ergon Peru S.A.C.'s Proposed $219.4 Million Senior Secured Bond, June 18, 2019

Ergon Peru S.A.C. (Ergon or the project) plans to issue $219.4 million of senior secured notes due in 2034. We expect that proceeds will be applied to refinance existing bank debt with which the project’s construction is being financed, fulfill a construction account to finance the unfinished installation phase, pay transaction related costs, and fund certain reserve accounts. The project is responsible for designing and installing several small ‐scale photovoltaic systems (RER Kits, or kits) in off-grid rural areas in the north-central and southern regions of Peru. Ergon is 90% owned by the Italian company Tozzi Green SpA and 10% by Gardini 2002 S.R.L.


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