Carey represents CACIB and MIGA in $500m loan to Codelco
Carey has represented Crédit Agricole Corporate and Investment Bank (CACIB) and Multilateral Investment Guarantee Agency (MIGA) in a USD $500 million loan granted by CACIB to Codelco and guaranteed by MIGA.
This transaction closed on 27 September and involved the jurisdictions of France and Chile. Norton Rose Fulbright acted as US counsel to CACIB, while Linklaters and Morales & Besa advised Codelco internationally and locally, respectively.
This financing is part of a Crédit Agricole secured bond programme, which involves the transfer by way of security of receivables (including all security interests, collateral and attachments attached to such receivables) arising from a portfolio of loans originated or held by CACIB and backed by certain collateral (in this case MIGA).
The advice was complex, as it involved aligning the applicable French rules on assignment of collateral with the Chilean rules and their interpretation from a tax point of view.
Carey’s team was led by partners Felipe Moro (pictured left) and Manuel José Garcés (pictured right), with support from associates Loreto Ribera and Francisco Jiménez.
Norton Rose Fulbright was led by partner José Cobeña, and associates Jualiana Liano Souza and Diego Brandao.
Linklaters’ team consisted of partner Matthew Poulter, associate Madeleine Blehaut, and counsel Emilio Minvielle.
Morales & Besa’s team included partner Myriam Barahona and associates José Manuel Meli and Camila Pereira.
