Cariola Díez Pérez-Cotapos advises 3 banks on Masisa Forestal loan
Chilean law firm Cariola Díez Pérez-Cotapos advised Coöperatieve Rabobank, Banco Santander-Chile and Banco de Crédito del Perú in connection with a $130 million credit restructuring and term loan agreement granted to timber company Masisa.
The loan was guaranteed by the company’s subsidiary Masisa Forestal and will be used to refinance existing financial liabilities.
Cariola’s team was led by partner Juan Antonio Parodi, with associates Florencia Grez and Teresita Fernández. Masisa was advised by its in-house counsel Patricio Reyes.
Masisa is one of Latin America’s largest timber producers but has been downsizing this year, selling industrial assets in Argentina, Brazil and Mexico with a total value of around $500 million.
The company is majority owned by Chilean investment holding company Grupo Nueva, and which focuses on the forestry and wood derivatives businesses.
