Miranda & Amado acts on $500M notes issuance
Miranda & Amado has advised Goldman Sachs & Co and JP Morgan Securities, as global coordinators and joint bookrunners, Deutsche Bank Securities and Scotia Capital, as joint bookrunners, and PJT Partners, as co-manager, in the issuance of 7.875% Senior Secured Notes due 2030 for US$500 million.
The notes were co-issued by ATP Tower Holdings, Andean Tower Partners Colombia, Andean Telecom Partners Peru, Andean Telecom Partners Chile, ATP Fiber Colombia, Redes de Fibra del Peru and ATP Fiber Chile. The firm also advised on the concurrent tender offer to purchase any and all of their outstanding 4.05% Senior Secured Notes due 2026.
The firm advised the Bank of Nova Scotia, Bancolombia (Panamá), Deutsche Bank, Goldman Sachs Bank and JPMorgan Chase Bank, as bookrunners, in a revolving credit facility granted to the same group of ATP entities listed above, as co-borrowers.
The proceeds from the notes will be used to fund the tender offer, prepay some indebtedness of the co-issuers, and for general corporate purposes. The proceeds of the credit facility will be used to fund ongoing working capital requirements and prepay some indebtedness of the co-borrowers.
The closing date for the deal was February 3, 2025, and the total deal amount was USD 500,000,000.00.
Garrigues team from Peru, Chile, and Colombia advised Andean Telecom Partners in strategic liability management transactions, including tender offer, bond issuance and credit facility.
The Miranda & Amado deal team included partner Juan Luis Avendaño (pictured) and associates Gabriel Boucher and Maria Fernanda Lazo.
