Clifford Chance advises on multi-jurisdictional secured financing to Grupo Unicomer

Clifford Chance has advised Banco General, S.A., and Citigroup Global Markets Inc., as joint bookrunners and lenders, in connection with a senior secured US$385 million syndicated term loan (the financing) to Grupo Unicomer Corp. (Unicomer). The financing is (i) guaranteed by subsidiaries of Unicomer in ten jurisdictions across Latin America and the Caribbean and (ii) secured by accounts receivable of Unicomer in Ecuador and Costa Rica.

Unicomer is a leading retailing and consumer finance group headquartered in El Salvador with operations across Latin America and the Caribbean. Unicomer will use the financing proceeds to refinance its 7.875% Senior Notes due 2024 and for general corporate purposes.

The team advising on the deal included partners Hugo Triaca and Evan Cohen, and associates Andrés Berry, Brianna Jones Rich and Alex Machado, with additional support from:

• Regulatory: Partners Megan Gordon and John-Patrick Powers and counsel Catherine Ennis and Jacqueline Landells
• Tax: Partner Avrohom Gelber and associate Callum Burnett
• ERISA: Partner Paul Koppel and associate David Walsh

Clifford Chance advises on many landmark finance and capital markets transactions in the Latin American market. The firm recently advised on (i) Grupo Energía Bogotá’s first sustainable bond issuance and (ii) LNG Energy Group’s acquisition financing in Colombia.