The Firm recently represented Banco BTG Pactual S.A. and Deutsche Bank Securities Inc., as initial purchasers, in connection with a US$300 million international offering of 7.750% Senior Notes due 2020 by SMU S.A. The offering was made to qualified institutional buyers in reliance on Rule 144A and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.
SMU is a leading Chilean-based retailer with the largest food retail business in Chile, based on number of stores. SMU operates its food retail business through supermarkets, wholesale stores, convenience stores and an online grocer which serve different market segments in Chile and Peru.
The Simpson Thacher team for this transaction included David L. Williams, Juan M. Naveira, and Fernando Arias (Capital Markets) and Jonathan Cantor and Jodi Sackel (Tax).
