Experts involved in the Deal
Finance & Capital Markets:
- François Warken
- Grégory Minne
- Milos Vulevic
- Daniel Gillenkirch
- Juan Del Compare
- Burak Aytaç
Tax:
- Yves Philippart de Foy
Arendt & Medernach advised the syndicate of dealer managers consisting of Citigroup Global Markets Inc., Santander US Capital Markets LLC and HSBC Securities (USA) Inc. and the structuring agents, joint lead arrangers and bookrunners consisting of, among others, Citigroup Global Markets Inc., HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México and BBVA México, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA México on the Luxembourg law aspects in connection with the successful completion by Auna S.A., a Luxembourg incorporated leading healthcare services provider in Latin America with operations in Mexico, Peru, and Colombia (“Auna”), of its US$765 million debt refinancing.
The transaction involved an offer by Auna to purchase for cash any and all of its outstanding 10.00% senior secured notes due 2029 (“Tender Offer” and “2029 Notes” respectively). Simultaneously with the Tender Offer, Auna conducted a solicitation of consents from the holders of the 2029 Notes to effect certain amendments to the indenture governing the 2029 Notes.
To fund the Tender Offer, to prepay indebtedness under an existing credit agreement, to pay related interest, fees and expenses and to repay other short-term debt, Auna and its fully owned subsidiary Oncosalud S.A.C., as co-issuers, issued US$365 million in aggregate principal amount of new 8.75% Senior Secured Notes due 2032 (“2032 Notes”). In addition, Auna closed a US$400 million equivalent MXN secured term loan maturing in 2030 that was extended to Hospital y Clínica OCA, S.A. DE C.V., Oncosalud S.A.C. and Grupo Salud Auna México, S.A. de C.V., as borrowers and guaranteed by Auna. That term loan also contemplates an incremental US$60 million equivalent tranche in Peruvian Soles which the Company expects to disburse in the near term.
The term loan and the 2032 Notes are guaranteed by certain of Auna’s subsidiaries and are secured by real estate assets in Mexico, Peru, and Colombia, and by shares of Auna’s material subsidiaries.
The Tender Offer was settled and the refinancing closed on 21 November 2025.