Caja de Compensación de Asignación Familiar Los Andes (Caja Los Andes). Debt Offering.

1.      Deal description

Guerrero Olivos assisted Caja Los Andes, leading social security services provider in Chile, representing more than 60% of the Chilean market. This time we were in charge of all legal aspects in connection with a local bond offering of UF2,300,000 (equivalent to US$91.3 million). Funds will be used to grant social security benefits and loans to its affiliates.

Bonds were registered with the Chilean Securities and Exchange Commission (SVS) on May, 2017 and were successfully placed on June 9 in the local market.

Caja Los Andes is a highly regulated entity, under the strict supervision of several authorities such as the SVS, the Superintendency of Social Security and the Superintendency of Banks, making our work more challenging in order to comply with these rules.

2.      Counsel lists

Counsel to Caja Los Andes: Guerrero Olivos. Partner: Roberto Guerrero V. [email protected] Associates: César Gálvez [email protected] and Josefina Hübner [email protected]

In house Counsel Caja Los Andes: Andres Medina [email protected] and Jorge Cerda [email protected]

3.      Date of closing


4.      Deal value

US$91.3 million.

5.      Jurisdictions involved