Guerrero Olivos advises banks on Algorta Norte refinancing
Chilean law firm Guerrero Olivos has represented two local banks, Scotiabank Chile and Itaú Corpbanca, in the $54.5 million refinancing of an existing credit agreement for mining company Algorta Norte.
The law firm’s banking and finance team was in charge of the whole transaction, including the negotiation of the financing documents and the collateral such as mortgages over mining concessions. The team ws led by partner Miguel Coddou (pictured), with associates Diego Rodríguez and Matías Ríos.
Algorta Norte specialises in iodine extraction and production and its main facility is located in Antofagasta, with and extraction area of around 35,000 acres and an annual production of 4,000 tons.
Scotiabank Chile’s in-house counsel was Natalia Mejías, while Itaú Corpbanca’s in-house was Juan Enrique Vial.
Law firm Jara del Favero’s Felipe Ovalle acted as counsel to Algorta Norte.
