Carey counsels BBVA’s USD 64 million financing to Telefónica Móviles Chile

Carey has advised Banco Bilbao Vizcaya Argentaria (BBVA), New York Branch, on a financing deal on February 28, 2025, granting Telefónica Móviles Chile approximately USD 64 million. The funds are targeted for refinancing certain existing debts of the borrower, marking a significant transaction involving jurisdictions in Chile and the United States.

Telefónica Móviles Chile, a leading telecom provider in the region, benefits from this refinancing arrangement as part of its strategy to optimize its financial liabilities.

The financing transaction between BBVA’s New York Branch and Telefónica Móviles Chile involved leading legal firms representing both parties across jurisdictions in Chile and the United States, which exemplifies the collaborative efforts of international and local legal teams to facilitate complex cross-border financial agreements.

White & Case acted as counsel to BBVA, with Anna Andreeva (partner) and Marina Gomm (associate) leading the representation.

Telefónica Móviles Chile was advised by Davis Polk as New York counsel, represented by Maurice Blanco (partner) and James Vickers (associate), while Dalgalarrando & Cía. served as local counsel in Chile, led by Felipe Dalgalarrando (partner) and Yael Slachevsky (associate).

Carey provided local counsel to BBVA in Chile, with Fernando Noriega (partner), José Luis Enberg (associate), and Felipe Reyes (associate) handling the case.