Empresas Carozzi, the largest Chilean food company. Local bond offering

1.       Deal Description

Guerrero Olivos assisted Empresas Carozzi –the largest Chilean food company– in a USD55 million local bond offering. Our capital markets team worked in the issuance, registration, and placement.

Banchile acted as placement agent and Banco de Chile/Citi acted as financial advisor.

The offering was materialized through a Dutch auction system and the demand was 2.5 times the available bond offering, achieving a 2.94% final interest rate.

We worked in a tight time frame to take advantage from the favourable market conditions available. Since 2018, this is the first issuance made by the company, in a highly volatile market with few placements during 2022.

2.       Counsel list

Counsel to Empresas Carozzi: Guerrero Olivos

Partners: Jorge Delpiano and César Gálvez

Associates: Daniela Ahumada and Juan Pablo Ossa

3.       Date of closing

04/08/2022

4.       Deal Value

USD55,000,000

5.       Jurisdictions involved

Chile