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