Morales & Besa advised Chilean banks in restructuring Agrofoods credits

May 30, 2017

Morales & Besa advised a group of banks in the restructuring of short and long term of the current debt of Agrofoods Central Valley Chile S.A., a closely held corporation, in a total amount of CLP $39,100,000.00.

The operation, which included the group of banks formed by Banco de Chile, Banco BICE, Rabobank chile, Banco de Crédito e Inversiones and Banco Security, implied the restructuring of debt of CLP $1,097,499,980 under the Sub Tranche One-Pesos, of US$11,794,776 under the Sub Tranche One-Dollars; an amount of CLP $9,111,703,295 under the Tranche Two. Additionally, an amendment of the working capital facility in Dollars granted by the banks for up to US$12,055,224.

The operation included the participation of 5 banking entities, as well as the restructuring of debt in various tranches, which made necessary to grant several documentation that made complex the operation.

The Morales & Besa team that participated in the transaction was composed by partner Myriam Barahona and associates Paulo Quinteros, Sebastián Nieme and María Francisca Estrougo.