Mendoza counsels Bodytech on financial debt management
Mendoza Abogados has counselled Bodytech, one of the most important sports and medical centres in Latin America with several locations in Colombia, Chile and Peru, in a financial debt management operation for a total amount of COP340,000,000,000 (approximately 85 million dollars).
A syndicate of six Colombian banks participated in this operation, consisting of Banco Davivienda, Bancolombia, Itaú Colombia, Scotiabank Colpatria, Banco de Bogotá and Banco de Occidente. It also involved the jurisdictions of Colombia, Peru, Chile and Spain.
The transaction was negotiated over a 14-month period, during which the company faced difficult market conditions, including unexpectedly high interest rates and currency fluctuations in the countries in which it operates.
This transaction was structured as a multi-tranche credit facility with senior and junior tranches. The firm’s advice involved leading the negotiation and drafting with the syndicate, while Estrategia en Acción led the financial structuring.
This transaction represents a significant improvement to the company’s capital structure and will allow Bodytech to continue to fulfil its purpose of shifting the gym concept towards a health-focused approach.
In-house counsel involved in the transaction were Olga Rodríguez Arias, Paula Andrea Gómez Caicedo for Grupo Bodytech; Bernardo Rivera for Banco Davivienda; David Alejandro Alfaro for Bancolombia; Maria Alejandra Aguirre for Banco de Occidente; Carmen Chaves Bustos and María Catalina Martínez Neira for Banco de Bogotá; Carolina Lache and Valentina Pinzón Terreros (external counsel) for Scotiabank; Luis Gabriel Arteaga for Itaú Colombia; and Santiago Vázquez for Fiduciaria Davivienda.
Mendoza’s team included lawyers Mateo Mendoza (pictured), Luis Armando Tolosa and Juan Pablo Villarreal.
