Chile—The transaction involved Banco de Crédito e Inversiones in Chile and Banco de Crédito e Inversiones S.A, Miami and considers a loan for US$150 million and the rescheduling of previous obligations of Ultranav for US$100 milion.

The Banking and Finance area of Dentons Larraín Rencoret advised Banco de Crédito e Inversiones and Banco de Crédito e Inversiones S.A, Miami Branch, United States, in the granting of a loan for US$250 milion in total to the Ultramar shipping company, part of the Ultramar group, and with presence in 15 countries.

The operation involved the granting of a loan by Banco de Crédito e Inversiones S.A, Miami Branch, for US$150 milion to finance corporate needs; and the rescheduling of local debts for US$100 milion of Naviera Ultranav Limitada with Banco de Crédito e Inversiones.

According to Felipe Rencoret, leader of the Banking and Finance area, the role of the team was to prepare the credit agreement under the New York law, its ancillary documents, and corporate guarantees; and prepare the Chilean law-governed rescheduling agreement and its ancillary documents. In addition, the group coordinated the transaction from the lender's side with legal firms in Denmark and Panama.

Felipe Rencoret worked with senior associate Luis Izquierdo, and associate Paula Alarcón.

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