Grupo Saba restructures debtsJanuary 18, 2018, by - LATIN LAWYER
Cuatrecasas in Barcelona and Carey in Santiago have helped the Chilean arm of Spanish car park operator Saba restructure debt worth 20 billion pesos (US$33 million).
The bank, Bice, hired Morales & Besa to help them grant the loan.
Saba received a secured loan from BBVA and Bice in 2012. Following BBVA’s assignment of its credit to Bice, the latter restructured the loan alone and granted a new credit facility to Saba to finance future acquisitions.
The transaction was guaranteed by Saba’s subsidiaries in Chile, including underground car park operator Saba Park Chile.
The deal closed on 18 December.
Counsel to Saba
In-house counsel - Elizabeth Collins
Partner Héctor Bros and associates Arnau Pastor and Guayente Gállego in Barcelona
Partner Felipe Moro and associates Loreto Ribera, Patricia Montt and Diego Lasagna in Santiago
Counsel to Banco Bice
Morales & Besa
Partner Myriam Barahona and associates Ignacio Menchaca, Paulo Quinteros and Bernardo Mora