Stibbe advises Auna S.A. on its successful USD 765 million debt refinancing
Stibbe advised Auna S.A., a Luxembourg-incorporated leading healthcare services provider in Latin America with operations in Mexico, Peru, and Colombia, and listed on the NYSE, on the Luxembourg law aspects of its USD 765 million debt refinancing, successfully completed on 21 November 2025.
The transaction included (i) a cash tender offer by Auna to purchase its outstanding 10.00% senior secured notes due 2029, together with a consent solicitation to approve certain amendments to the indenture governing those notes, and (ii) the raising of new secured financing.
To fund the tender offer, prepay indebtedness under an existing credit agreement, pay related interest, fees and expenses, and repay other short-term debt, Auna and its subsidiary Oncosalud S.A.C., as co-issuers, issued USD 365 million aggregate principal amount of new 8.75% senior secured notes due 2032. Auna completed the closing of a secured term loan facility in an aggregate amount of the MXN equivalent of approximately USD 400 million, with final maturity in 2030, made available to several group entities as borrowers and guaranteed by Auna. The term loan also contemplates an incremental USD 60 million equivalent tranche in Peruvian Soles, which the Company expects to disburse in the near term.
The term loan and the newly-issued 2032 notes are guaranteed by certain of Auna’s subsidiaries and are secured by real estate assets in Mexico, Peru, and Colombia, as well as by shares of Auna’s material subsidiaries.
This successful refinancing strengthens Auna’s capital structure by extending maturities and securing long-term funding to support its continued growth across the region.
