Cariola advises Itaú Corpbanca on naval port restructuring

Cariola has assisted Itaú Corpbanca, Banco Santander-Chile, Banco del Estado de Chile and Banco de Crédito in the restructuring of San Vicente Terminal Internacional

 Cariola Díez Pérez-Cotapos has advised Itaú Corpbanca as mandated lead arranger, administrative agent and lender, and Banco Santander-Chile, Banco del Estado de Chile and Banco de Crédito e Inversiones as lenders in connection with the restructuring of the Chilean port operator and concessionaire of Puerto San Vicente de Talcahuano, San Vicente Terminal Internacional S. A. (“SVTI”) as borrower, under a port concession agreement granted by the Chilean state-owned Empresa Portuaria Talcahuano San Vicente (“Emport”).

This transaction was completed on 20 May and had a value of approximately US$70,000,000.00.

The financing was secured by a pledge of all shares issued by the borrower, the borrower’s rights under the concession agreement and a promise of sale agreement, and pledges of the borrower’s fixed assets.

Cariola’s team was led by partner Rodrigo Sepúlveda (pictured left), along with associates Teresita Fernandez (pictured top right) and Vicente Sáenz de Santa María (pictured bottom right). In addition, Claro & Cía. acted as legal counsel to the borrower and Bofill Mir Alvarez & Jana as external legal counsel to Emport.