Cuatrecasas advises Goldman Sachs and J.P. Morgan on Andean Telecom Partners bond issue for $375 million with RCF

Cuatrecasas, through its offices in Chile and Colombia, advised Goldman Sachs and J.P. Morgan on a senior bond issue with four issuers—all from the Andean Telecom Partners (ATP) Group in Chile, Colombia, Peru and the United States—for USD 375 million at 4.05%, due 2026 and with a revolving credit facility (RCF) under New York law for the issuers from the four jurisdictions. Both the bond and the loan are guaranteed by a significant package of guarantees in the four jurisdictions and the resources will go toward general corporate purposes, including repayment of the existing debt.

This successful inaugural bond issue on the international markets is a private placement to qualified institutional buyers in the US under Rule 144A of the US Securities Act of 1933, and to investors outside the US under Regulation S. Goldman Sachs and J.P. Morgan acted as global coordinators and joint brokers, and Deutsche Bank Securities and Scotiabank acted as joint brokers. The transaction closed on Abril 27, 2021.

The Cuatrecasas advisory team on this transaction was made up by lawyers from the Chile office Macarena Ravinet, Tomás Montes and María del Pilar Illanes; and from the Colombia office Manuel Quinche, Verónica Ossa and Natalia Arango.