Clifford Chance represents Cristalerías Toro in $60m bond placement
Clifford Chance has represented Cristalerías Toro on a private placement of bonds, under Section 4(a)(2), at a fixed rate with a term of eight and a half years for an aggregate principal amount of $60 million.
Toro Glassworks used the proceeds of the notes to repay existing debt and for capital expenditures and general corporate purposes.
“This transaction highlights that the 4(a)(2) private placement format remains a viable financing alternative for certain corporate issuers despite current market volatility and political uncertainty”, said Luis Maria Clouet, lead associate in the transaction.
Cristalerías Toro is a Chilean family-owned company with more than six decades dedicated to the manufacture and marketing of glass containers.
Clifford Chance’s team comprised partners, Hugo Triaca (pictured right), Avrohom Gelber, Paul Koppel and Jefferey LeMaster, counsel David Rondon, associates Luis Maria Clouet (pictured left), Robert Johnson, Thomas Koh and David Walsh, and law clerks María Fernanda Gadea Rivera and Caroline Koo, along with foreign law clerk Fernando Liu.
