Morales & Besa advised CorpGroup in the reorganization of its debt

May 30, 2017

Morales & Besa advised BCI in the amendment of debt of CorpGroup Interhold and CorpGroup Financial, both members of the CorpGroup holding, for an approximately amount of UF 585,000 (CLP $15,500,000,000). The transaction included the granting by BCI of a UF 477,000 (CLP $12,700,000,000) new facility to CorpGroup Inversiones Ltda., another member of CorpGroup holding; and the rearrange of the Itaú Corpbanca / SMU shares package granted in pledge to secure several credits owed by members of the CorpGroup holding to BCI.

The deal was executed on April 27th. It involved an amount of CLP $28,200,000,000 pesos and considering the huge number of credits held and pledges granted by the different companies involved, the transaction became extremely complex as it required closed coordination between commercial and legal teams of all parties.

The Morales & Besa team that participated in the transaction was composed by partner José Miguel Carvajal and associates Ignacio Delpino, Paulo Quintero, Bernardo Mora and Gonzalo Machuca.