Scotiabank and Banco Internacional. Transportes Patagonia Wellboat Limitada Financing.
1. Deal Description
Guerrero Olivos represented Scotiabank Chile and Banco Internacional in the USD39.5 million financing to Patagonia Wellboat, for the construction of two vessels to provide services for the aquaculture industry.
Guerrero Olivos was in charge of the whole transaction, since initial negotiations until its closing. Financing documents were financing agreements and collateral, which included ship mortgages.
Complexity to this transaction was the nature of the operation and the unusual guarantees. The transaction was closed in 3 months, during lockdowns, which made it even more complex.
2. Counsel list
Counsel to Scotiabank and Banco Internacional: Guerrero Olivos
Leading partner: Miguel Coddou ([email protected])
Associates: Diego Rodríguez and Matías Ríos
Scotiabank Chile. In-house counsel: Enrique Arechavala
Banco Internacional. In-house counsel: Claudia Álvarez Rojas
Counsel to Transportes Patagonia Wellboat Limitada: Reymond, Colombo & Cía Abogados. Partner: Julio Reymond
3. Date of closing
15/05/2020
4. Deal Value
USD39,500,000
5. Jurisdictions involved
Chile