Chile’s Vespucio Norte Express completes financial restructuring

The restructuring was aimed at optimizing the debt profile of the company and its parent company, BAIH S.A.

Chilean law firm Prieto provided legal counsel to the company throughout all stages of the process, including the design of the transaction structure, negotiation and execution of the financing contract, bond issuance, and coordination of the prepayment of existing liabilities of both the company and its parent company, BAIH S.A.

“The transaction required close coordination with financial advisors, creditors, bondholders, and regulators, and included the following simultaneous operations,” the firm said.

This transaction marks a significant milestone for the company and demonstrates the confidence of investors, creditors, and the market in general in the company, as well as in the strength of the transactions structured with the legal support of Prieto,” the firm added.

The firm also acted as counsel to the bond placement agents Itaú Corredores de Bolsa and BCI Corredores de Bolsa, and Econsult, which served as the company’s financial advisor.

Morales & Besa acted as legal counsel to Banco Itaú and Banco BCI in connection with the execution of the new financing agreement.