PPU counsels on financing for acquisition of WOM by PTI Chile

Philippi Prietocarrizosa Ferrero DU & Uría Chile has counselled the Bank of Nova Scotia, as administrative agent, and Scotiabank Chile in the US$2 billion financing for, among other purposes, PTI Chile’s acquisition of approximately 3,800 telecommunications infrastructure towers owned by WOM.

This transaction was closed on 12 August, with Phoenix Tower International Chile acting as borrower and Barros Silva Varela & Vigil Abogados Limitada acting as its counsel. White and Case acted as external legal counsel to the lenders, and Locke Lor acted as external legal counsel to the borrower.

BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Capital, LLC, Banco Santander, Sumimoto Mitsui Banking Corporation, Société Genérale, JPMorgan Chase Bank, MUFG Union Bank, Bank of America, Mizuho Bank, Morgan Stanley Senior, Funding, Inc, Natixis, New York Branch, Deutsche Bank, Banco General, Goldman, Sachs Lending Partners, The Bank of Nova Scotia, Banco Latinoamericano de Comercio Exterior, Global Bank Corporation, First Citizens Financial Services (St. Lucia) Limited, Barclays Bank, Towerbank International, and Scotiabank Chile acted as lenders.

Barros Silva Varela & Vigil’s team included partners Jorge Vigil and Fernando Barros, senior associate Josefina Castro and associate Martín Soza.

PPU’s team was led by partner Marcelo Armas (pictured left), assisted by associates Daniel Parodi (pictured right), Pedro Pablo Valenzuela, Nicole Bercovich and Juan Ignacio Rosales.