Former Carey & Cía associate Gracia Tomic has been made partner at Aninat Schwencke & Cía.
Chilean copper wire and cable manufacturer Madeco SA has begun its restructuring programme. The company entered into amended and restated loan agreements with 14 bank creditors in December (as reported in LATIN LAWYER), and on March 4 it paid out US$36 million as the initial condition upon the plan.
Following difficulties with an equity issuance in October (as reported in LATIN LAWYER), Chilean copper wire and cable manufacturer Madeco SA has reached an agreement to restructure its foreign and domestic debt with 14 bank creditors. The agreement was reached on December 18 and involves approximately US$120 million.
The Republic of Chile has issued a public offering of 7.125 per cent bonds due 2012, for a value of US$100 million. The deal closed on November 4.
Axa SA has put an end to its operations in Chile by selling its business interests there to Banco de Crédito e Inversiones SA and Empresas Juan Yarur SAC. The deal, for an undisclosed amount, closed on August 7.
The Republic of Chile has successfully issued and placed US$600 million 5.625 per cent bonds due 2007. The transaction, the second issuance under the umbrella of a shelf registration with the SEC made in 2001, closed on April 23. The spread was one of the lowest ever achieved by an emerging economy.
The highway concessionaire Sociedad Concesionaria Autopista del Sol SA (ASSA) is planning a local issuance of long-term UF bonds worth approximately US$128.5 million, insured by Financial Security Assurance Inc (FSA). The transaction was registered by the Chilean Superintendencia de Valores y Seguros on March 8, and is expected to be completed by mid-April.
Carey & Cía, Shearman & Sterling and Guyer & Regules advised the underwriter in the November 29 issue of Ch$80 billion (US$140 million).