Scotiabank Chile and Export Development Canada. ATCO Sabinco Financing

Scotiabank Chile and Export Development Canada. ATCO Sabinco Financing

1.       Deal Description

Guerrero Olivos represented Scotiabank Chile and Export Development Canada (“EDC”) in the structuring of a USD35 million financing granted to ATCO Sabinco S.A., a relevant local supplier for the mining industry. Our financing team oversaw the whole transaction.

It was an interesting operation due that we had to work in a non-customary local financing structure, a fronting scheme to adjust the structure to allow Scotiabank and EDC to jointly grant the loan.

2.       Counsel list

Counsel to Scotiabank Chile and Export Development Canada: Guerrero Olivos

Leading partner: Miguel Coddou

Associates: Matías Ríos and Daniela Ahumada

Counsel to ATCO Sabinco S.A.: Cariola Diez & Pérez-Cotapos

3.       Date of closing

25/10/2021

4.       Deal Value

USD35 million

5.       Jurisdictions involved

Chile