PPU advises AD Retail on the registration of 2 new bond facilities

PPU Chile has advised AD Retail on the registration of 2 new bond facilities with the Securities Registry of the Chilean markets’ regulator, CMF

PPU  Infrastructure partner Andrés Sanfuentes (pictured left), along with main associate Guillermo Vial (pictured right), have counselled AD Retail S.A. on the registration of 2 new bond facilities with the Securities Registry of the Chilean markets’ regulator, CMF; the first one is a 22-year unsecured debt facility, while the second one is a 5-year debenture facility. Likewise, and after the registration of the foregoing facilities, the Company got the registration for 2 new bond series, namely, the issuance of a “G-series” of unsecured bonds with a 22-year seniority, and the issuance of an “H-Series” of 5-year seniority debentures.

The registration of the foregoing facilities and the issuance of the series above cited are all part of the instrumentalization, swap, and exchange process for bonds of the Company which expiry dates were renegotiated under the simplified reorganization arrangement the latter entered with its creditors.

PPU Associates Constanza Rodríguez, Macarena Fuchs, and Juan Pablo Zegers also took part in the operation.

Partner Andrés Sanfuentes highlighted “this advisory job has been highly–complex and quite challenging since it escapes the corporate bond issuances typical in the market; the new bonds had to include the terms and conditions in the reorganization arrangement, which included a package with certain guarantees for some of the bonds”.