CCAF La Araucana’s $443 Million Bond Exchange Offer


Guerrero Olivos and Garrigues advised on the transaction

La Araucana executed the registration and exchange of two series of bonds totalled $442 million and was carried out in the context of the reorganisation and restructuring agreement executed by La Araucana and its creditors.

Caja de Compensacion de Asignacion Familiar La Araucana provides financial services. The Company offers temporary disabilities allowance, social credit, welfare benefits, and legal services. Caja de Compensacion de Asignacion Familiar La Araucana operates in Chile.

Creditors representing 80 per cent of the total concurred with the bond exchange process and Banco de Crédito de Inversiones acted on behalf of the bondholders of other bond series.

Guerrero Olivos advised CCAF La Araucana with Juan Enrique Allard (Picture), Miguel Coddou, César Gálvez and Josefina Sánchez.

Garrigues advised Banco Santander-Chile, Banco de Chile and Banco de Crédito de Inversiones (BCI) on the offering with a team including Pedro García and María Fernanda Jara Verdugo

Involved fees earner: Pedro García Morales – Garrigues; María Fernanda Jara Verdugo – Garrigues; Juan Enrique Allard – Guerrero Olivos; Miguel Coddou Astrain – Guerrero Olivos; César Gálvez Tobar – Guerrero Olivos; Josefina Sánchez – Guerrero Olivos;

Law Firms: Garrigues; Guerrero Olivos;

Clients: Banco de Chile; Banco de Crédito e Inversiones; Banco Santander Chile; Caja de Compensación de Asignación Familiar La Araucana;

Author: Ambrogio Visconti.