Scotiabank and Banco Estado. Gamma Cementos refinancing.
1. Deal Description
Guerrero Olivos represented publicly owned bank, Banco Estado and Scotiabank in a USD75 million restructuring and refinancing of a credit agreement with Gamma Cementos S.A., one of the largest local companies in the cement industry.
Complexity to this transaction was that the refinancing was made by two local banks which had to negotiate the amendment of the original terms and conditions and the granting of new warranties.
2. Counsel list
Guerrero Olivos as counsel to Scotiabank and Banco Estado
Partner Miguel Coddou
Associate Diego Rodríguez
Scotiabank: Enrique Arechavala
Banco Estado: María Cecilia Jiménez
Counsel to Gamma Cementos: Larraín y Asociados
Partner Patricio Montes
Associates Diego Garay and Michelle Inzunza
Date of closing
Pledge agreements were registered on 25/11/2019
3. Deal Value
4. Jurisdictions involved