Cuatrecasas acts in financing project for Gasco
Cuatrecasas, through its Santiago office, acted as advisor to Banco Itaú Chile in providing project financing to Gasco Solar Térmico, owned by Empresas GASCO, for the construction, commissioning and operation of a solar thermal power generation system for the Escondida mining company, owned by BHP.
With this operation, in which a robust direct agreement and a package of guarantees were signed, Gasco will finance an important project that introduces a sustainable and innovative technology in one of the largest mining companies in the country, in line with Empresas GASCO’s business strategy to be a leader in the delivery of sustainable energy solutions, displacing polluting fuels through its new business unit Gasco Minería.
Barros & Errázuriz (B&E) advised Empresas Gasco, the latter through its subsidiary company specially incorporated for this purpose, Gasco Solar Térmico Uno, in the process of negotiation and subscription of a credit line agreement with Banco Itaú Chile and Itaú Chile New York Branch.
The advice included an extensive negotiation of the Financing Agreement, including its annexes and guarantees, involving technical, banking and legal advice.
Disbursement under the Financing Agreement took place on 22 March.
Cuatrecasas’ team was led by partner Macarena Ravinet (pictured left), together with partners Roberto Guerrero (pictured centre), Sebastián Leyton (pictured left) and associates José Agüero, Federico Espinosa, Magdalena Urquidi and Álvaro Caviedes.
B&E’s team was composed of partner Nicolás Balmaceda Jimeno, senior associate Diego Ovalle Vergara, and associates Sebastián Rosende Echavarri and Rodrigo Fernández del Río Bruna.
