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Monday, 12 August 2019 20:45

Cariola advises Joyvio on $160m credit facility

Chilean law firm Cariola Diez Pérez-Cotapos has advised food and agribusiness investment platform Joyvio Group as parent and controller, its Chilean subsidiary Food Investment as guarantor, and Australis Mar as borrower, in connection with a $160 million revolving credit facility granted by Bank of China, Macau Branch.

Rodrigo Sepulveda of CariolaBank of China acted as mandated lead arranger and bookrunner, original lender, agent and security agent. 

The loan will be used to consolidate, amend and restate existing export loans of the borrower, and to refinance existing financial debt and the export of the borrower, as well as for general corporate and working capital purposes.

The financing was guaranteed by Food Investment, a Chilean subsidiary of Chinese corporation Legend Holdings Corporation through its Chinese affiliate Joyvio Agriculture Development Co. 

Cariola’s team comprised partners Rodrigo Sepúlveda (pictured) and Francisco J. Illanes, and associates Nicolás Vial, Franco Dalmazzo, Diego Martínez and Valentina Barros 

Other firms involved were Shearman & Sterling (Hong Kong), as English adviser to the guarantor and its controller, with counsel Kenneth Ching and associate Alison Lui; and Clifford Chance (Hong Kong), as English adviser to the finance parties, with partner Maggie Lo and associates Cherry Zhou, Decheng Zhang and Beanka Chiang.

Carey acted as Chilean legal adviser to the finance parties, with partner Felipe Moro and associates Fernando Noriega, Diego Lasagna and Kriss Andia. Grandall Law Office acted as Chinese adviser to the Guarantor and Joyvio.