Guacolda Energía. International Refinancing

Guacolda Energía. International Refinancing

1.      Deal Description

Guerrero Olivos represented 9 local and international banks (Banco de Chile, Banco Estado, Itaú Corpbanca, Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank Ltd., Scotiabank Chile, Scotiabank & Trust (Cayman) Ltd., Sumitomo Mitsui Banking Corporation) in the international restructuring of a USD60 million credit agreement granted to Guacolda Energía S.A. (formerly Empresa Eléctrica Guacolda S.A.)

Complexity to this transaction is that we had to deal with 9 banks and the time-frame. We had 48 hours before closing to perform the work. The transaction included the survey of documents in connection with a previous longstanding financing and the restructuring of the debt instruments that were effective up to the closing date.

2.      Counsel list

Counsel to the banks:

Local counsel: Guerrero Olivos

Leading partner: Macarena Ravinet.  

Senior Counsel: Alejandro Chechilnitzky

Associates: Matías Ríos, Antonia Namur and Tomás Montes

Foreign counsel: Davis Polk

Partner: Maurice Blanco 

Associate: James Vickers

Counsel to Guacolda Energía S.A.:

Local counsel: Claro y Cía.

Partner: José Luis Ambrosy

Associates: Paulina Valentín and Trinidad Rojas

Foreign counsel: Sherman & Sterling

Partner: Alexandro Padres

Associate: Nathan Bishop

3.      Date of closing

30/04/2020

4.      Deal Value

USD60 million

5.      Jurisdictions involved

Chile and New York