WOM. ISDA agreements with Goldman Sachs

1.      Deal Description

Guerrero Olivos represented WOM S.A. y WOM Holding SpA, part of the WOM Group, Chile’s fastest-growing mobile voice and data and mobile broadband services provider by total subscribers and revenue, owned by UK investment fund Novator Partners LLP.

Our capital markets team assisted WOM in the execution of several ISDA agreements amounting to USD45 million, with Goldman Sachs, to mitigate exchange rate effects over part the funds obtained from the USD500 million bond issuance in the international market under Rule 144A/Regulation S of the Securities Act, made by related company Kenbourne Invest and guaranteed by WOM on January 2021. 

Our team oversaw the local aspects of the transaction including ISDA negotiations and collateral structuring.

2.      Counsel list

Counsel to WOM S.A. and WOM Holding SpA: Guerrero Olivos

Partner: Pedro Pellegrini

Senior associate: César Gálvez

Associate: Josefina Sánchez

International counsel to WOM: White & Case (London and New York)

Partner: Jill Concanon (London)

Associate: Rhys Bortignon (New York)  

Goldman Sachs: In house counsels

3.      Date of closing

June 24, 2021

4.      Deal Value

USD45 million

5.      Jurisdictions involved

London, New York and Chile