Carey has advised SMU on the issuance and placement of Series AO and AN bonds in the amount of approximately USD 75 million
Carey has represented SMU in the issuance and placement of dematerialised bonds Series AO and AN for $2 million Unidades de Fomento (UF), approximately $75 million, in the local market, at an interest rate of 6.25% and an annual rate of 6.3%; and maturing in 2027.
The transaction, closed on 15 March, involved Credicorp Capital as financial advisor.
The advice involved the negotiation of the bond issuance contract and the registration process at the Securities Registry of the Financial Market Commission (CMF). This is the first placement of long-term debt instruments in quite some time, so a new mechanism was used to facilitate the registration of debt securities with the CMF.
Carey’s team consisted of partner Cristián Figueroa (pictured left), together with associates Nicolás Fosk (pictured top right) and Tomás Iturriaga (pictured bottom right).