ATP restructures debt with Bank of Nova Scotia, Bancolombia, Deutsche Bank, Goldman Sachs, JPMorgan

Cuatrecasas has advised investors Bank of Nova Scotia, Bancolombia, Deutsche Bank, Goldman Sachs and JPMorgan on major debt restructuring with Andean Telecom Partners (ATP). Our teams from the Santiago and Bogotá offices participated in the three transactions that were involved.

The first transaction consisted of a bond issue under New York law (Rule 144A) by ATP, through its fiber-optic and digital infrastructure subsidiaries in Chile, Colombia, Peru and the United States. This bond issue was supported by a strong guarantee package in all the jurisdictions involved.

The second transaction involved the repurchase of senior guaranteed bonds issued in 2021. Finally, a renewable line of credit was modified and reformulated, consolidating a crucial financing transaction for ATP Tower Holdings, Andean Tower Partners Colombia, Andean Telecom Partners Perú and Andean Telecom Partners Chile.

Our lawyers’ advice enabled the investors’ debt to be restructured and ensure advantageous financial conditions in the capital market, as well as strengthening ATP’s financial position for future projects and growth.

The transaction was led by lawyers Macarena Ravinet, Federico Espinosa and José Agüero, from the Santiago office, and Juan Carlos Puentes and Andrés Herrera, from the Bogotá office. Macarena Ravinet stated, “This transaction is an important milestone in debt restructuring for the ATP Group. Moreover, we are proud to have worked together with our colleagues from the Bogotá office and to have been able to provide joint legal counsel to our clients in the different jurisdictions.”