Miguel Coddou

Guerrero Olivos counsels on rescheduling of Manuka Group loans

Guerrero Olivos has counselled creditors on the rescheduling of approximately CLP$160 billion of Manuka Group loans, including debt redenominations, novations and reschedulings, as well as prepayments and disbursements of new funds.

This transaction also included the lifting of existing mortgages and the creation of new mortgages on real estate and water rights, including the survey of title to 140 properties and 70 water rights.

This transaction was closed on 24 January, where the firm Méndez Ruiz-Tagle & Cia also participated. Totara acted as debtor, while Manuka, Toromiro, Inversiones Lácteas Kauri Limitada, and Rimu acted as joint and several guarantors and co-debtors. The syndicate of creditors was led by Rabobank and BCI as structurers, and integrated by Banco BICE, Banco Santander, Scotiabank, Banco Estado, Banco de Chile and Metlife Seguros de Vida.

The advice involved support in the documentation of the loans, the study of real estate titles and water rights.

The in-house lawyers of the creditors who advised on the transaction were: Jorge Miranda for Rabobank; Alejandra Hernández, BCI; Claudia Ernst, BICE; Francisca Estrougo, Banco Santander; Enrique Arechavala, Scotiabank; Cecilia Jiménez, Banco Estado; Luis Claro and Javier Álvarez, Banco de Chile; and Juan Eduardo Troncoso and Ignacio Holmberg, Fontaine & Cia. for Metlife.

Méndez Ruiz-Tagle & Cia. was represented by Gonzalo Méndez and Macarena Cánepa.

Guerrero Olivos’ team was led by partner Miguel Coddou (pictured), assisted by partners Tomás Rosemary, Benjamín Pérez and Sebastián Abogabir, and associates Catalina Saldias, Ignacio Chomalí, Juan Ignacio Peribonio, Benjamín Sims, Sebastián Mozó, Antonia Melelli and Teresa Trucco.

L Giselle Estrada