Morales & Besa successfully advised Cencosud S.A. in the issuance and placement of Series C and Series E Bonds

September 6, 2019

Morales & Besa successfully advised Cencosud Shopping S.A., in the issuance and placement of the Series C Bonds under the bond line registered in May 2019 in the Securities Registry maintained by the Financial Market Commission (CMF) under number 940, and in the issuance and placement of the Series E Bonds under the bond line registered in May 2019 in the Securities Registry of the CMF under number 941 for a total joint amount of UF 9,000,000 (US $360,000,000 approx.). The placement agent was Banchile Corredores de Bolsa S.A.

The transaction achieved extremely attractive conditions and had a AA+ risk rating granted by Feller-Rate and Humphreys. The transaction was executed through two series of bonds:

  • The Series C, structured as a 9.5-year bullet, was placed at a yield of 0.47%.
  • The Series E, structured at 25.5-year bullet, was placed at a yield of 1.08%.

Both Series C and Series E were placed at the lowest rates ever for 9.5-year bullet and 25.5-year bullet corporate bond issues.

The Morales & Besa team that participated in the transaction was led by partner Guillermo Morales, along with senior associate Andrea Díaz and associate Mariana Schnettler.