Cariola advises BNDES on public concession

Cariola Díez Pérez-Cotapos has counselled Brazilian BNDES on public concession in Chile

Cariola Díez Pérez-Cotapos advised the Brazilian bank Banco Nacional de Desenvolvimento Econômico e Social – BNDES (“BNDES”) as lender on a $22.8 million export financing to be granted to Buses Metropolitana S.A., a Chilean operator company and concessionaire of the Santiago public transportation system (Sistema Red or the “Santiago Transportation Network System”), as the borrower under a public transportation concession granted by the Ministry of Transportation of Chile. The financing will finance the purchase price of a bus fleet to be used by the borrower for the operation of passenger transportation services of the Sistema Red. The complexed security package of the financing will include the cash flows and account receivables of the borrower from the operation of the Santiago Transportation Network System.

Cariola Díez Pérez-Cotapos team was led by partner Rodrigo Sepúlveda (pictured left) and involved senior associate Sergio Balharry (pictured centre), and junio associate Vicente Sáenz de Santa María (pictured right).

BNDES in-house legal counsel in Brazil was Beatriz Jourdan; and Claro & Cía. acted as local counsel to the Brazilian exporter and manufacturer Marcopolo S.A. with a team formed by partner Jorge Martin, and associates Josefina Covarrubias and Felipe Moraga.