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News Oct 10, 2014

Shearman & Sterling Represents InRetail Consumer in Senior Notes Offering, Offer to Purchase and Consent Solicitation

Shearman & Sterling represented InRetail Consumer, a Peruvian trust, along with its subsidiaries, in connection with (1) its issuance of US$300,000,000 aggregate principal amount of 5.250% Senior Notes due 2021 and (2) its offer to purchase and consent solicitation for any and all of the outstanding 8.875% Senior Secured Notes due 2018 of Interproperties Retail Trust, a Cayman trust.

InRetail Consumer, together with its subsidiaries, is a retail company operating exclusively in Peru with nationwide presence and leading market positions in its two business segments: supermarkets and pharmacies. Supermercados Peruanos, its supermarket chain, is the second largest in Peru, based on revenues. InkaFarma, its pharmacy chain, is the largest in Peru, based on revenues, and is the most recognized pharmacy brand and one of the most recognized brands in the country. A substantial portion of the proceeds from the Senior Notes offering was used to purchase the outstanding tendered Interproperties Retail Trust notes, and the remainder, if any, will be used for general corporate purposes.

The Shearman & Sterling team advising InRetail Consumer included partner Antonia Stolper (New York-Capital Markets); associates Jesse Cuevas (San Francisco-Capital Markets), Jeffrey Tate (Washington, DC-Tax), and Mary Jo Lang (Washington, DC-Tax); and International Associate Jimena Janeiro Fong (New York-Capital Markets).

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