Garrigues advises Global Soluciones Financieras on the establish of its first bond programme
Garrigues has counselled local car financing company Global Soluciones Financieras on the setting-up of its first bond programme
Chilean law firm Garrigues has advised automobile insurer Global Soluciones Financieras to create its first bond programme and make its inaugural issue worth $120 million dollars.
The transaction, which closed on 2 March, had local finance company LarraínVial as placement agent, while Banco de Chile also acted on behalf of the bondholders. Both financial groups did not receive external advice.
Following registration of the programme with the Chilean Financial Markets Commission (CMF), Global Soluciones Financieras obtained USD 65 million in its first bond issue. The debt bears interest at 5.75% and expires in 2024.
The issuer will use the proceeds to refinance ongoing debt.
Garrigues team was led by partner Pedro García (pictured left), assisted by associates Daniel Hernández (pictured right) and María Fernanda Jara.
