AGUNSA UCL Project Agencias Universales S.A. (AGUNSA or the Company) is a leading logistics provider and operator in Latin America that is based in Valparaiso, Chile. The Company has over 30 years of experience in both Chilean and international markets, is present in more than 20 countries and has more than 70 subsidiaries and associated companies that provide services to large global clients. AGUNSAs main business lines include logistics, agency services, and operation of ports and airports. The proposed investment consists of a US$70 million unsecured loan, comprised of an A loan of up to US$35 million and a B loan of up to US$35 million.  The investment will finance AGUNSAs planned capex program at Terminal II in Port of Valparaiso and will also support the Companys efforts to refinance and consolidate upcoming debt maturities. Stakeholders - Access and Quality.
The project will allow the continuity to the operation of Valparaisos Terminal 2 under a short-term concession, thus maintaining access and quality to port users. To maintain the terminal level of service the client has committed to purchase equipment to support vessel and land side operations for both containerized and general cargo.  The project will also allow the company to continue growing its logistics services portfolio (warehousing, labelling, consolidation and deconsolidation of containers, pallets dismantling/assembly, temperature-controlled storage), which was up 8% in YoY basis, and to consider the potential expansion of its geographic footprint outside of Chile.

Market Level - Competitiveness.
The Project will contribute to maintaining market competitiveness by supporting a key player introducing innovative services and practices into Chiles logistics sector. Agunsa is implementing technology solutions like a virtual trucking services exchange portal that contributes to improve asset utilization which results in lower vehicle operating costs per unit of cargo transported and can potentially result in lower costs to customers. In addition, the platforms real time pricing increases price transparency for customers. The platform also increases reliability of trucking services by offering tracking cargo capabilities which adds visibility to the logistics chain.  By demonstrating the business case of this innovative services, the project is expected to promote the development of a more sophisticated sector and effectively contribute to economic distance between Chile and its commercial partners. Logistics competitiveness is an important driver of economic growth in Chile and accounts for 11.5% of its GDP (2020).

Market Level - Financial Integration.
The Project will pioneer the use of a sustainability-linked loan (SLL) in the logistics services sector in Chile, contributing to their increased adoption and helping draw ESG investors to the sector. Agunsas pioneering SLL will contribute to market development by demonstrating the viability of this instrument for a company of its size and by providing a model for structuring similar loans in the Chilean market. Replicating the SLL would allow mid-size companies to tap into the demand for assets that have a positive environmental impact, in order to diversify sources of financing.