Guerrero Olivos acted in Towerbank’s financing to Krah
Guerrero Olivos acted as advisor to Towerbank International in the negotiation and structuring of a financing granted to Krah Latin America, with the joint and several guarantee of Montajes Industriales Montec, for a maximum amount of USD 3,500,000.
The financing was divided into two tranches: one for the purchase and sale of an industrial building and the purchase and installation of equipment for the manufacture of geosynthetic products at Krah Latin America’s facilities, and the other to finance the purchase of raw materials.
The transaction closed on 23 September 2024, with the first tranche disbursed on 16 October 2024 and the second on 6 January 2025.
This financing involved the granting of Chilean guarantees to secure Krah Latin America’s obligations under the financing.
The advice involved the preparation of the corporate approvals of Krah Latin America and Montajes Industriales Montec for the execution of the relevant documentation.
In addition, the firm advised Towerbank International on the application for the first and second disbursement under the financing granted, for USD 800,000 and USD 500,000 respectively, which involved the preparation of the corresponding promissory notes to document the debt and the issuance of legal opinions regarding the legal capacity of the companies and their legal representatives to execute the necessary documents, and the validity and enforceability of the Chilean securities.
This transaction had the typical complexities of those involving parties from different countries of origin, as our work was essential to translate the commercial agreement between the parties into documents executed under Chilean law.
Guerrero Olivos’ team was led by partner Miguel Coddou (pictured), with support from associates Ignacio Chomalí, Juan Peribonio, Catalina Saldías and Felipe Martínez.
