Cariola represents CCU in $600m senior bond issue

Cariola Díez Pérez-Cotapos has advised Compañía Cervecerías Unidas on the issuance and placement of a USD 600 million senior bond

 Cariola Díez Pérez-Cotapos has represented Compañía Cervecerías Unidas S.A. (CCU), in connection with the issuance and placement of a $600,000,000 US dollar 144A-REG S senior notes due 2032, initially purchased by BofA Securities, Inc, Citigroup Global Markets Inc, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as joint bookrunners and initial purchasers, and Citibank, N.A., as trustee, registrar, transfer agent and paying agent. The proceeds of the notes will be used for general corporate purposes.

This transaction was closed on 19 January, with Milbank LLP acting as New York counsel to the issuer; Davis Polk & Wardwell LLP and Claro & Cía. acting as counsel to the joint bookrunner and the initial purchasers in New York and Chile, respectively; and Thompson Hine LLP advising the trustee in New York.

CCU, a Quiñenco subsidiary of the Luksic Group and Heineken International, is one of Chile’s largest and most important producers of soft drinks, juices, mineral water, wines and beverages.

Cariola’s team was led by partner Rodrigo Sepúlveda (pictured top left), with support from associates Sergio Balharry (pictured top right), Cristóbal Morales (pictured bottom left), Glen Rybertt (pictured bottom centre) and Cristóbal Thompson (pictured bottom right).