Deal · Chile
Carey and Guyer advise on Enjoy Punta del Este sale
Carey and Guyer & Regules advised the Secured Bondholders Committee , acting as representative of the holders of international bonds issued by Enjoy , in connection with the sale of Baluma , owner of the Enjoy Punta del Este hotel and casino, for approximately USD180 million .
Carey and Guyer & Regules advised the Secured Bondholders Committee, acting as representative of the holders of international bonds issued by Enjoy, in connection with the sale of Baluma, owner of the Enjoy Punta del Este hotel and casino, for approximately USD180 million.
The transaction was carried out as part of the orderly asset sale process agreed under Enjoy’s judicial reorganisation agreement. The sale proceeds were applied to the prepayment of the company’s international bonds.
The transaction closed on July 11, 2026, and involved the United States, Uruguay and Chile.
Transaction structure
The transaction involved two financing arrangements documented through new bonds governed by New York law.
First, Moneda provided financing to Baluma to fund the cash portion of the purchase price and Baluma’s working capital requirements. The financing was documented through a USD40 million Reg S bond issued by Baluma.
Second, a portion of the purchase price was paid through the issuance of a USD115 million Reg S bond by the purchaser. The bond was made available to holders of Enjoy’s international bonds to facilitate a bond prepayment and exchange.
