Caja Los Andes. Local bond offering

1.      Deal Description

Guerrero Olivos represented the leading social security services provider in Chile Caja de Compensación de Asignación Familiar de Los Andes (“Caja Los Andes”), which accounts for more than 60% of the Chilean market, in the registration of a local bond offering of USD336 million. BICE bank acted representing the bondholders.

The registration was successful. The Commission for the Financial Market (local regulator), issued the registration certificate on 19/06/2020.

Our capital markets team was in charge of the whole transaction, which was executed in the context of a diversification of Caja Los Andes’ financial sources plan. This is very relevant due that the plan will allow Caja Los Andes to optimize the security benefits and loans to its affiliates during pandemic times.

 2.      Counsel list

Counsel to Caja Los Andes: Guerrero Olivos

Partner: Roberto Guerrero, senior associate César Gálvez and junior associate Josefina Sánchez.

3.      Date of closing


4.      Deal Value

USD336 million

5.      Jurisdictions involved