Giddings Fruit cross-border financing

1.    Deal Description

Guerrero Olivos’ banking & finance team represented The Prudential Insurance Company of America in a USD90 million loan granted to US company Giddings Fruit to fund its operations in Latin America and for the payment of an existing debt. The financing was executed under Guaranteed Senior Secured Notes and included several guarantees including mortgages and pledges.

The Prudential is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, investment management, and other financial products and services to both retail and institutional customers throughout the United States and in over 40 other countries.

2.    Counsel list

Counsel to The Prudential:

Chile: Guerrero Olivos

Partners: Miguel Coddou and Juan Enrique Allard. Associates: Diego Rodríguez, Tomás Montes, Pilar Illanes and Antonia Namur

USA and UK: Akin Gump Strauss Hauer & Feld LLP

Partner: Thomas O’Connor in London. Senior Counsel: Margaret Parker-Yavuz in Washington, DC. Counsel: Rachel Ramos in Los Angeles

Mexico: Creel, García-Cuéllar, Aiza y Enriquez SC

Partner Rodrigo Castelazo. Associates Martín Pavón, Santiago Reyes and Héctor Avila en Ciudad de Mexico

Perú: Rodrigo, Elías & Medrano Abogados

Partner Luis Enrique Palacios. Associate Juan Antonio Pinilla en Lima

Counsel to Giddings Fruit

DLA Piper LLP. 

Partners Jamie Knox and Christopher Paci in NYC

DLA Piper Chile

Partner Matías Zegers. Associates Jorge Timmermann, Bernardita Doren, Vicente Vergara, María del Pilar Paredes, Roberta Andreani and María Isabel Izquierdo in Santiago

DLA Piper Mexico

Partner Edgar Romo. Associates Adolfo Obregon and Joaquín Gallástegui in Ciudad de Mexico

DLA Piper Perú

Partner Sergio Barboza. Associate Farah Torres in Lima

Date of closing

20/12/2019, although several warranties are not yet registered.

3.    Deal Value

USD90 million

4.    Jurisdictions involved

USA, UK, Chile, Perú an Mexico