Garrigues steers Norte Grande´s refinancing
Garrigues Chile has advised three Grupo Norte Grande companies on refinancing operations
Sociedad de Inversiones Pampa Calichera, Potasios de Chile S.A. and Sociedad de Inversiones Oro Blanco S.A., all part of the Norte Grande group, which controls SQM, closed in less than three weeks a series of financing agreements with the banks Security, BTG Pactual Chile S.A., BTG Pactual S.A. – Cayman Branch and Consorcio, in order to refinance the liabilities of the three companies involved, as well as for other general corporate purposes of all of them.
In the case of Sociedad de Inversiones Pampa Calichera S.A, Garrigues helped to secure financing from different sources. Security Bank financed $64 million, Banco BTG Pactual Chile $20 million, BTG Pactual S.A. Bank – Cayman Branch $26 million, and Consortium Bank $60 million. A total of $170 million.
For Potasios de Chile S.A. the financing has a total value of $32 million, coming from the Security Bank $11 million and Banco BTG Pactual Chile $21 million.
The Sociedad de Inversiones Oro Blanco S.A obtained $20 million from Consortium Bank.
Garrigues team was led by partners José Miguel Rioseco (Partner) and Cristóbal Fainé (Partner), and involved associate Diego Torres.
The in-house lawyers Rodolfo Bennewitz (Security Bank), Sebastian Monge (BTG), Sofia Duralde (BTG), and Nabih Chalhub (Consortium Bank) also were involved in the transaction.
