Carey represents IFC in financing Santo Tomás education group
Carey has represented the International Finance Corporation (IFC) in a financing to the Santo Tomás educational group, comprising Universidad Santo Tomás, Instituto Profesional Santo Tomás and Centro de Formación Técnica Santo Tomás, for approximately US$57 million.
The objective is to allocate the funds to finance physical and digital infrastructure projects in higher education, targeting students from mostly vulnerable backgrounds across Chile.
This transaction was signed on 13 June and involved the jurisdictions of Chile and the US (New York). Beccar Varela also advised IFC, while Nassar Delgado Iñiguez (NDI) advised Santo Tomás.
The advice, being a transaction in the higher education sector, a heavily regulated area in Chile, involved the review and strict compliance with the rules of communication to the authority.
In addition, this financing operation is the final milestone of a cooperative relationship between IFC and Santo Tomás, which began during the Covid-19 pandemic, with IFC advising Santo Tomás on the implementation of a roadmap that would contribute to improving the employability of its students; and strengthening the environmental and social practices of its community.
Catalina Ugarte Amenábar and Jorge Jaramillo acted as in-house counsels for Santo Tomás and IFC, respectively.
NDI’s team included partner Pedro Felipe Iñiguez and associates Karen Urrestarazu, María Angélica Elizalde and Javiera Edwards.
Beccar Varela’s team consisted of partners Pablo José Torretta and Carolina Serra, together with associate Franco Montiel.
Carey’s team was led by partner Fernando Noriega (pictured), with the support of associates Tomás Varela, Loreto Ribera, José Luis Enberg, Nicolás Fontaine, Felipe Reyes and María José Vidal.
