Clifford Chance Represents CLISA in Consent Solicitation
Clifford Chance has represented Compañía Latinoamericana de Infraestructura & Servicios (CLISA) in connection with its consent solicitation directed to the holders of its Senior Secured Notes due 2027.
CLISA requested the consent of the holders of the Notes to the proposed amendments, including the reduction of the aggregate principal amount of the Notes to US$270 million, the extension of the maturity date, the modification of the applicable interest rate and scheduled interest payments, the addition of new guarantees and the inclusion of a new covenant to issue redeemable notes subject to certain requirements, among others.
Pursuant to the indenture, the proposed amendments required the prior consent of holders representing at least 75% of the aggregate principal amount of the outstanding notes. CLISA successfully closed the Consent Solicitation after receiving consents from holders representing approximately 94% of the outstanding Notes.
CLISA, an Argentine infrastructure manager and developer with over 115 years of experience, is currently organized around four main business segments: (i) construction, (ii) waste management, (iii) transportation and (iv) water supply.
Clifford Chance’s was led by partner Hugo Triaca (pictured) and included associates Paula Ferreira and Mariana Gutierrez Ruiz, all based in New York. The team was assisted by counsel Anja Pfleger Andrade in São Paulo and Sarah Campbell in New York. Partner Avrohom Gelber and associates DyTiesha Dunson and Joshua Thomas assisted with the tax aspects of the transaction.
