Saieh Group’s $121 Million Restructuring of Financing Contracts

Larrain y Asociados advised Banco Consorcio in the transaction.

Banco Consorcio executed the modification and restructuring of financing contracts previously entered into between the entity and the societies belonging to the Saieh Group: (i) Inversiones Gasa Limitada for an approximate capital value of US$46,616,430; (ii) Retail Holding S.A. for an approximate capital value of US$69,469,420; and (iii) Inmobiliaria Playa Las Golondrinas for an approximate capital value of US$5,290,000.

Additionally, the operation included the signing of a new financing contract with Retail Holding S.A. for approximately US$20,715,371, and included the modification of pledges on shares issued mainly by SMU S.A., which guarantee the credits granted to the aforementioned companies.

Larrain y Asociados advised Banco Consorcio with partner Patricio Montes (Picture), and associates Michelle Inzunza and Teresita Vinagre.

Involved fees earner: Michelle Inzunza – Larrain y Asociados; Patricio Montes – Larrain y Asociados; Teresita Vinagre – Larrain y Asociados;

Law Firms: Larrain y Asociados;

Clients: Banco Consorcio;

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