B&E assists in modification of financing to Sugal
Barros & Errázuriz has assisted the lenders in the negotiation and execution of an amendment to a syndicated financing agreement previously granted to Sugal B.V., for more than USD $160 million, aimed at refinancing existing liabilities.
This transaction was completed on August 14 and involved the jurisdictions of the Netherlands, Switzerland, Portugal, Spain and Chile. Linklaters Portugal advised the lenders, while Vieira de Almeida acted as counsel to the borrower and the guarantors.
Coöperatieve Rabobank, Banco de Sabadell, Banco BPI, Banco Bilbao Viscaya Argentaria, Unicaja Banco, ING Bank-Sucursal España, Caja Rural del Sur S. Cooperativa de Crédito, Novo Banco, Caixa Económica Montepio Geral and Caixa Económica Bancaria acted as lenders.
The transaction had additional complexities due to the structuring and application of ESG criteria associated with the EURIBOR interest rates applicable to the financing and the structure of corporate guarantees granted by a number of companies related to the debtor in four different jurisdictions.
B&E’s team was led by partner Vicente Cordero B. (pictured), with the support of associates Vicente Antúnez V. and Pablo Ulloa S., and attorney Josefa Riquelme R.
