Clínica Anglo Americana: Private Bond

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Clínica Anglo Americana renews its USD 10 MM senior secured private debt

In September 2017, the Clínica Anglo Americana (“CAA”) issued its first private corporate bond: a 3-year, USD 10 MM facility funded by EFIC Capital SAFI’s “Fondo de Inversión de Deuda Privada I”.

In September 2020, CAA and EFIC Capital SAFI agreed to renew and extend the USD 10 MM private bond for three additional years; along with a renegotiation of certain terms of the loan.

This transaction was arranged in two parts: first an extension of EFIC Capital SAFI’s “Fondo de Inversión de Deuda Privada I” and then an extension of the private bond.

The first step of the transaction: the extension of the “Fondo de Inversión de Deuda Privada I” (which had a 3-year term) for three additional years, required the approval of the fund’s shareholders. This included a USD 2.3 MM capital increase to replace those shareholders which decided to not extend its investments in the Fund.

Once the extension of the Fund was approved, EFIC Capital SAFI proceeded to approve the extension of the private bond.

In the middle of the complex circumstances caused by COVID-19, the operation was closed successfully based on a negotiation in line with the interests of both parties.

EFIC Partners acted as structuring agents in the transaction.