Arendt & Medernach Advises on Auna’s US$765 Million Debt Refinancing

Arendt & Medernach advised the syndicate of dealer managers — Citigroup Global Markets Inc., Santander US Capital Markets LLC and HSBC Securities (USA) Inc. — and the structuring agents, joint lead arrangers and bookrunners, including Citigroup Global Markets Inc., HSBC México, S.A., Banco Santander México, S.A. and BBVA México, S.A., on the Luxembourg law aspects in connection with Auna S.A.'s 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 (the Tender Offer and the 2029 Notes). Simultaneously with the Tender Offer, Auna solicited consents from the holders of the 2029 Notes to effect certain amendments to the indenture governing those 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 wholly 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 (the 2032 Notes). In addition, Auna closed a MXN secured term loan equivalent to US$400 million maturing in 2030, 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 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. Arendt & Medernach represented the syndicate of dealer managers and the structuring agents, joint lead arrangers and bookrunners with a team composed by: Finance & Capital Markets: François Warken; Grégory Minne; Milos Vulevic; Daniel Gillenkirch; Juan Del Compare; Burak Aytaç Tax: Yves Philippart de Foy

Arendt & Medernach Advises on Auna’s US$765 Million Debt Refinancing

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