Guerrero Olivos counsels Scotiabank and EDC in $35m financing to ATCO Sabinco

Guerrero Olivos has advised Scotiabank Chile and Exporte Development Canada in a 35 million financing granted to ATCO Sabinco

 Chilean law firm Guerrero Olivos has represented Scotiabank Chile and Export Development Canada in the structuring of a $35 million US dollars financing granted to ATCO Sabinco S.A., a relevant local supplier for the mining industry.

The transaction was closed on 25 October, where Cariola Diez & Pérez-Cotapos acted as counsel to ATCO Sabinco. Guerrero Olivos worked in a non-customary local financing structure, a fronting scheme to adjust the structure to allow Scotiabank and EDC to jointly grant the loan.

Atco Sabinco is a construction company dedicated to the manufacture of prefabricated modules, providing solutions for facilities such as casinos, emergency hospitals, complete bathrooms, mining camps, among others. It has a factory in the district of Lampa, inaugurated in 2011, one of the most modern in South America with an area of more than 61,000 m2.

Guerrero Olivos’ team was led by partner Miguel Coddou, along with associates Matías Ríos and Daniela Ahumada.