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