Morales & Besa advised a banks syndicate on the amendment of the financing of Javiera SpA photovoltaic park
Morales & Besa advised Itaú Corpbanca, Banco Bilbao Vizcaya Argentaria, Chile and Banco de Sabadell S.A., Miami Branch in the amendment to the financing granted to Javiera SpA, a Chilean subsidiary of SunEdison Inc., for the construction of Javiera solar plant, to reflect the change of control resulting from the indirect acquisition of 100% Javiera SpA shares by Atlas Renewable Energy (Chile) SpA, a wholly owned subsidiary of Actis. Actis is a UK based, leading investor in developing markets across Africa, Asia and Latin America.
Due to the change of control, Javiera SpA, terminated certain relevant agreements, and, as consequence, the transaction included the negotiation and approval from the lenders of the operation and maintenance agreement, and the management services agreement. Additionally, a capital increase in Javiera SpA was agreed.
The Morales & Besa team that participated in the transaction was composed by partner Myriam Barahona, senior associate Ignacio Delpino and associate Sebastián Nieme.