Shearman And Sterling

News February 07, 2022

ILC’s $300 Million Notes Offering

Shearman & Sterling represented Inversiones La Construcción S.A. (ILC) in connection with the issuance of $300 million 4.750% senior notes due 2032. The proceeds of the offering will be used for general corporate purposes, which will mainly be for the refinancing and/or repayment of certain of ILC’s indebtedness. This issuance represents ILC’s first international bond.

BofA Securities, Inc. and J.P. Morgan Securities LLC acted as Joint Book-Running Managers in the transaction.

ILC is a leading provider of financial, health and retirement services in Chile and additionally provides retirement savings services in Perú and Colombia. ILC’s operations are focused in three key activities: (i) non-insurance and non-banking activity, including pension funds, private mandatory health insurance and private health care (e.g., hospitals and medical centers); (ii) insurance activity, including life, annuities and supplementary health insurance; and (iii) banking activity.

The Shearman & Sterling team below included associates Nicolas Usandivaras (New York-Capital Markets), Stephanie Li (New York-Investment Funds); and Sydney Kane (New York-Tax).

The Team