Bilateral loan Banco Security. Larraín Vial. Cofisa

1.      Deal description

Guerrero Olivos assisted Banco Security in a bilateral loan granted by the later to Fondo de Inversion Privado LV COFISA II, represented by Larrain Vial Activos S.A. Administradora General de Fondos, for the acquisition of credits originated by Counsel to Créditos Organización y Finanzas S.A. (“Cofisa”). Cofisa is a financial institution specialized in automovil credits. Our assistance included a pledge agreement over the acquired credits, and structuring and developing a cash sweep structure.

2.      Counsel lists

Counsel to Banco Security: Guerrero Olivos: Senior Counsel Miguel Coddou [email protected] and associates Tomás Montes [email protected] and Matías Ríos [email protected]

In-house counsel Banco Security: Rodolfo Bennewitz [email protected]  and María Victoria Mujica [email protected]

Counsel to Larrain Vial Activos S.A. Administradora General de Fondos, acting for Fondo de Inversión Privado LV COFISA II: Barros & Errázuriz: Víctor Barros [email protected], Nicole Ubal [email protected], Santiago Benítez [email protected] and Juan Ignacio Galdámez [email protected]

Counsel to Cofisa: Borquez Yunge: Juan Pablo Bórquez.

3.      Date of closing

21/08/2017

4.      Deal value

Credit for the amount of CLP 18,000,000,000.-  for the acquisition of credits originated by Cofisa. 

5.      Jurisdictions involved

Chile