Cariola acts for Esmax Distribución in credit restructuring

Chilean law firm Cariola Díez Pérez Cotapos has advised Esmax Distribución as the borrower in connection with a credit facility restructuring for the outstanding principal amount of around $106 million owed to Scotiabank Chile, Banco BICE and Banco del Estado.

The credit facilities restructuring was part of a major corporate restructuring of the borrower and its affiliates, and involved the assignments of the loans held by Banco BICE and Banco del Estado to Scotiabank Chile, a partial re-denomination of the loan from Chilean pesos to Unidades de Fomento, and other major amendments to the tranche in Chilean pesos and the new tranche in Unidades de Fomento.

Cariola team was led by partner Rodrigo Sepúlveda (pictured), with associate Teresita Fernández.

Palma & Cía. acted as as counsel to Scotiabank Chile, with a team led by partners Sergio Quesney and Juan Eduardo Palma, while Barros & Errázuriz served as counsel to the borrower regarding corporate and tax matters, with a team led by Cristián Barros and associate Cristián Risopatrón.