Enel Chile gets a USD150 million loanAugust 1, 2019, by - LATIN LAWYER
Enel Chile gets syndicated loan a year after reorganisation
Christina McKeon Frutuoso
01 August 2019
Winston & Strawn LLP in New York and Carey in Santiago have helped electricity company Enel Chile obtain a US$150 million syndicated credit agreement from Canadian, Japanese and Spanish banks.
The lenders, BBVA, Scotiabank Chile and Mizuho, relied on Garrigues (Chile). Davis Polk & Wardwell LLP in New York is thought to have provided international counsel to the banks, but this could not be confirmed prior to publication.
The credit agreement provides for two loans of up to US$100 million and 34 billion Chilean pesos (US$48.6 million) combined.
Enel will use the funds for general corporate purposes.
Enel Chile carried out its second reorganisation in two years last year. The power company retained Carey and Winston & Strawn for that process, which was worth US$3.8 billion and saw it increase its stake in Enel Generación Chile and merge with renewables company Enel Green Power Latin America. Garrigues and David Polk were hired by Enel Green Power Latin América and the lenders.
Counsel to Enel Chile
In-house counsel – Domingo Valdés, Mónica Fernández and Josefa Rodríguez
Winston & Strawn LLP
Partners Allen Miller, Claude Serfilippi and Rob Heller, foreign legal advisor Cesar Galvez and associate Amanda Sewell in New York
Partners Diego Peralta and Alfonso Silva, and associates Angélica De la Carrera, Elvira Vial and Manuel José Garcés in Santiago
Counsel to Bilbao Vizcaya Argentaria, Mizuho and Scotiabank Chile
Partner Pedro García and associates Francisca Ferrer and Fernando Vial in Santiago