Cuatrecasas counsels Inversiones CMPC on a $500m sustainable credit facility

Cuatrecasas Chile has assisted Inversiones CMPC in obtaining and underwriting a $500 US million sustainable credit facility

Cuatrecasas, through its team in Santiago de Chile, has counselled Inversiones CMPC in the process of granting and underwriting a $500,000,000 US dollar sustainable credit facility under New York law. The company must repay the loan in April 2026, in a single instalment, and implicit to this type of transaction, must ratify compliance within the agreed terms of certain sustainability objectives monitored through Key Performance Indicators and Sustainability Performance Targets, among others.

The loan proceeds will be used to finance sustainable environmental improvement investments. The loan was made under the Sustainability-Linked Term Loan Facility, with Bank of America, Scotiabank, BNP Paribas, HSBC Bank, Export Development Canada and Mizuho as lenders. Scotiabank will act as global coordinator and administrative agent, while BNP Paribas and Bank of America will act as sustainability coordinators.

Thanks to this transaction, Inversiones CMPC supports its goal of reducing greenhouse gas emissions by 50% by 2030, while contributing to a 25% reduction in water consumption, zero waste generation and the planting of more than 100,000 hectares of land.

Sullivan & Cromwell acted as international counsel to Inversiones CMPC; while White & Case and Philippi Prietocarrizosa Ferrero DU & Uría (PPU) acted as international and Chilean counsels to the lenders, respectively.

Sullivan & Cromwell’s team was represented by partner Werner Federico Ahlers, special counsel Benjamin S.D. Kent, as well as associate Leo Held.

White & Case’s team comprised partner Sabrena Silver and associates Adrián Leal y Helena Buitrago.

PPU’s team included partner Marcelo Armas MacDonald, principal associate Daniel Parodi Nebreda and associate Juan Ignacio Rosales Schaeffer.

Cuatrecasas’ team consisted of partner Macarena Ravinet (pictured left), together with associates Federico Espinosa (pictured top right) and Tomás Montes (pictured bottom right).

Cuatrecasas counsels Inversiones CMPC on a $500m sustainable credit facility

L Giselle Estrada

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