Cariola Díez Pérez Cotapos advises Chilean railway credit facility
Cariola Díez Pérez-Cotapos has counseled Empresa de los Ferrocarriles del Estado (EFE), the Chilean State-owned railway company, in connection with a US$700 million unsecured 20-year long-term credit facility entered into with Corporación Andina de Fomento (CAF), the Andean multilateral financial corporation, and Instituto de Crédito Oficial (ICO), the Spanish State-owned financial credit entity, to partially finance the investment plan of EFE and its subsidiaries.
This long-term facility was the third financing granted by CAF to a Chilean State-owned company in more than 50-years which is considered a significant recognition from both important multilateral financial institutions of EFE’s investment plan and social contribution for the development of Chilean railway infrastructure.
The Republic of Chile became a member of the international public treaty “Convenio Constitutivo de la Corporación Andina de Fomento” on January 2023, and the first financing granted by ICO, the Spanish State-owned financial credit entity, to a Chilean State-owned company.
The Cariola Díez Pérez-Cotapos team was led by partner Rodrigo Sepúlveda (pictured), senior associates Cristóbal Morales and Brian Bustos, along with associate Glen Rybertt.
Other firms involved in this transaction includes Morales & Besa, as local legal counsel to the lenders. Cecilia Araya Catalán (CFO), Marcela Serrano Becerra (Vice-CFO) and Diego Mandiola worked as EFE’s in-house counsel.
