Larrain y Asociados counsels Santander on $32 million financing to fund school project
Larrain y Asociados advised Banco Santander-Chile on a financing transaction for Fondo de Infraestructura (Desarrollo País), involving a two-tranche credit facility totaling 740,000 UF (approximately US$32.4 million). The funding is earmarked for the construction of a new school on Isla Juan Fernández, supporting critical educational infrastructure development in the remote volcanic Chilean island in the South Pacific.
It includes a mortgage, a pledge on relevant contracts, and a mandate to guarantee the obligations of Fondo de Infraestructura. The objective of the financing is to construct a school on Juan Fernández Island, located in the remote volcanic Chilean island group in the South Pacific.
Desarrollo País is a state-owned company whose purpose is to promote infrastructure projects in an agile and efficient manner, with a long-term perspective, through public-private partnerships. The transaction was closed on March 30, 2026.
Partner Diego Garay (pictured) led the Larrain and Larrain y Asociados’ team along with associates Teresita Vinagre, Pablo Figueroa, and José Spoerer (Real Estate). The firm Lembeye Abogados also counseled the transaction.
