Guerrero Olivos represents Energy Fitness Clubs in $11.5m financial agreements restructuring

Guerrero Olivos has represented Energy Fitness Club in a restructuring of financial agreements in partnership with 7 local banks, for 11.5 million dollars

 Guerrero Olivos has represented the group of fitness and health clubs, Energy Fitness Clubs, in the restructuring of financial and leasing agreements with seven local banks, which included Scotiabank Chile, Banco de Chile, Banco de Crédito e Inversiones, Banco Consorcio, Banco Security, Itaú Corpbanca and Banco Santander-Chile.

This transaction was closed on 27 April and was worth approximately 11.5 million usd dollars.

In this deal, no agent bank was appointed, resulting in a complex transaction, as Guerrero Olivos’ team had to negotiate the refinancing with each of the banks involved, with each bank implementing its own documentation structure.

Guerrero Olivo’s team was led by partner Miguel Coddou (pictured top left), assisted by associates Matías Ríos (pictured top right), Sofía Middleton (pictured bottom left), and Daniela Ahumada (pictured bottom right). Olivos Urbano y Cía. Abogados acted as counsel to Banco Santander-Chile, while Silva Bahamondes Abogados was counsel to Itaú Corpbanca.