Cariola advises Enel Chile on $50m Revolving Credit Agreement

Cariola Díez Pérez-Cotapos has assisted Enel Chile S.A. in a 50 million USD Revolving Credit Agreement with Sumitomo Mitsui Banking

 Cariola Díez Pérez-Cotapos has advised Enel Chile S.A., as borrower, in connection with a $50 million US dollar Senior Unsecured SDG-Linked Revolving Credit Facility entered into with Sumitomo Mitsui Banking Corporation as administrative agent, SDG coordinator and lender.

This financing was granted in accordance with the Sustainability-Linked Lending Principles published in May 2021 by the Loan Market Association together with the Loan Syndications and Trading Association and the Asia Pacific Loan Market Association.

In the transaction, which closed on 27 October, Winston & Strawn LLP acted as New York counsel to Enel; Davis Polk acted as New York counsel to Sumitomo Mitsui; Morales & Besa acted as Chilean counsel to Sumitomo Mitsui; and Josefa Rodriguez acted as in-house counsel to Enel Chile.

Enel Chile is one of Chile’s largest energy companies and part of the Italian multinational Enel. Through its subsidiary Enel Distribución Chile it operates in a concession area of more than 2,100km2 covering 33 communes in the Metropolitan Region. This represents 40% of the total sales of the country’s distributors, distributing electricity to almost two million people. Enel Chile is headquartered in the city of Santiago.

Winston & Strawn LLP’s team was led by partner Claude Serfilippi, assisted by associate Amanda Sewell.

Davis Polk’s team consisted of lawyers James Vickers, James Florack, Luis Felipe Sousa and Maurice Blanco.

Morales & Besa’s team was comprised of partner José Miguel Carvajal, together with associates Rocío Vergara and José Manuel Meli.

Cariola’s team consisted of partner Rodrigo Sepúlveda (pictured left) and associate Glen Rybertt (pictured right).