Morales & Besa advises Bank of America as the financiers for SK Spice and SK Spice Group

January 19, 2017

Morales & Besa successfully advised Bank of America as the financiers for SK Spice and SK Spice Group, who on July 1st, 2015 had entered into a credit agreement with Bank of America Merrill Lynch International Limited, Bank of America, N.A. and other financial institutions. For the purpose of securing the full, effective and timely performance of the obligations of SK Spice under this agreement, certain securities were granted by SK Subsidiaries in favor of Bank of America, N.A., acting as collateral agent.

On November 16, 2016, SK Spice and the financial institutions executed and amended and restated credit agreement abovementioned, for the purpose of, among other things, increase the aggregate principal amount of loans and extend the maturity date applicable to them. Due to these changes in the credit agreement, the securities documents granted on 2015 were amended to secure the compliance of SK Spices obligations.

The new amount of the credit agreement is US$306,250,000 and EUR 290,000,000.

The team at Morales & Besa was led by Matías Langevin with associates Vicente Valdés and Joaquín León.