CAP Group restructures intercompany debt incurred by subsidiary CSH

Cuatrecasas advised the Chilean holding company CAP S.A. on restructuring the $290 million intercompany debt that its subsidiary Compañía Siderúrgica Huachipato S.A. (CSH) has incurred with CAP. This process includes capitalization of most of the debt, and converting part of the remaining debt into a long-term loan, thus reducing CSH’s short-term financial burden.

The restructuring was carried out in line with the procedure for approval of related-party transactions, introduced by the Corporations Act (Law. No. 18,046). This ensures that minority shareholders can participate in the process at all times.

The team advising on the transaction was made up of Cuatrecasas lawyers Roberto Guerrero, Tomás Kubick, Macarena Ravinet, Franco Dalmazzo, Pilar Illanes, Ronny Vaismann and Isidora Opazo.