Morales & Besa advised Ruta del Maipo in the issuance and placement of Series F Bonds

June 19, 2019

Morales & Besa successfully advised Ruta del Maipo in the issuance and placement of Series F Bonds, issued pursuant an indenture, for UF 5,000,000 due to 2030. The funds will be used to finance the complementary works of the concession agreed with the Ministry of Public Works, and to prepay the loan granted by Banco del Estado de Chile to Ruta del Maipo through a bank credit, to finance such complementary works. Therefore, after the placement of the bonds, the referred credit was prepaid.

As consequence of the prepayment of the loan granted by Banco del Estado de Chile, this transaction required a coordinated work among the company, law counsel, financial advisors, local banks involved in the financings, trustees of bondholders, collateral agent and public agencies. Likewise, being the first financing transaction taking place after the refinancing of Ruta del Maipo which occurred last year, the structure of extension and sharing of collateral agreed by the parties at that time was taken into place.

The Morales & Besa’s team that participated in this advice was led by partners Carlos Silva and Myriam Barahona along with senior associate Andrea Díaz and associates Isabel Díaz and Pedro Pablo Valenzuela.