Cencosud refinances liabilities for USD 770 million

Santiago, April 1, 2014.-Cencosud has successfully concluded a liability refinancing process amounting to approximately USD 770 million, reducing its maturities by approximately USD 650 million for this year and USD 120 million for 2015. This positions the company in a solid liquidity position and decreases its financial obligations for the next 24 months.

The operation was carried out with the support of 10 regional banks, including BBVA, Banco de Bogotá, Bradesco, Banco del Estado de Chile, HSBC, Mizuho Bank, Banco Popular de Colombia, Rabobank, Santander, and Sumitomo Mitsui Banking Corporation, along with other competitive proposals. This demonstrates the company's strong financial position and market confidence.

The funds will be used for refinancing liabilities in Chile, Brazil, Peru, and Colombia, with loan tenures ranging from three to six years.

Approximately USD 270 million will be allocated to Chile, USD 60 million to Peru, USD 144 million to Brazil, and USD 179 million to Colombia (all figures are approximate). This extends the amortization schedule in line with the company's current debt structure.

This successful operation aligns with the group's financial strategy by extending the debt maturity profile, enabling a focus on operations and deleveraging the company.