Morales & Besa advised Banco BICE in refinancing and additional financing of Saba Estacionamientos de Chile S.A.

January 8, 2018

Morales & Besa successfully advised Banco BICE on refinancing and additional financing of Saba Estacionamientos de Chile S.A., through the assignment of loans by Banco Bilbao Vizcaya Argentaria Chile to Banco BICE and the restructuring of such loans, as well as the granting of new facilities for the issuance of guarantee bonds and to finance future acquisitions. The transaction included the guarantee of all the subsidiaries of the SABA group in Chile and pledge over the shares of such entities.

The operation required the review and negotiation of the documentation, which included the legal opinion of a Spanish law firm, in a tight schedule, since it was necessary to execute the operation on the payment date established in the current financing.

The Morales & Besa team that participated in the operation was formed by the partner Myriam Barahona, with the participation of the associates Ignacio Menchaca, Paulo Quinteros and Bernardo Mora.