B&E in refinancing of Ameris Capital claims
Barros & Errázuriz has advised Ameris Capital, acting on behalf of its Private Investment Fund LP 15-01, as originator (Fund), in the negotiation of the refinancing of the Fund’s claims in conjunction with the rest of the creditors and their materialization through the issuance of securitized bonds.
The bonds were backed by the companies’ entire loan portfolio, which were delivered to the creditors in payment of their claims. The advice also involved the subsequent liquidation of the Fund and Ameris Carteras Comerciales I Fondo de Inversión, managed by Ameris Capital Administradora General de Fondos, as contributor to the private investment fund, and the delivery of the securitised bonds in payment of the respective contributions.
This transaction, completed on 3 October, had a value of approximately USD 180,000,000.
The advice was provided in the context of the integration of Inversiones LP’s businesses with Empresas La Polar, AD Retail and their subsidiaries and the restructuring of their liabilities. This transaction was also advised by Carey, as advisor to EF Securitizadora, Ried & Fabres as advisor to Banco de Crédito e Inversiones, and Larraín y Asociados as advisor to La Polar and AD Retail.
Fondo de Inversión Privado LP 15-01 is the holder of certain credits and cash credit payment flows granted to holders of credit cards issued by Inversiones LP, for sales of products and services marketed in the ‘La Polar’ multi-store network and unrelated affiliated shops.
B&E’s team was led by partner Luis Alberto Letelier (pictured), assisted by senior associate Pedro Pablo Cruz and associates Andrés Vaccaro and Catalina Carvallo.
