24 September, 2019 Chile

CMPC gets Japanese green financing

Banking, Finance and Capital Markets

Carey has helped Chilean pulp and paper company CMPC obtain a US$100 million syndicated green loan.

MUFG, Japan’s largest bank, led the syndicate of lenders and turned to Philippi Prietocarrizosa Ferrero DU & Uría (Chile).

It is thought that Sullivan & Cromwell LLP also advised CMPC, while Davis Polk & Wardwell LLP is understood to have represented the lenders, but this could not be confirmed prior to publication.

The financing closed on 13 September. CMPC will use the funds to modernise the vapour system of a boxboard mill in Valdivia.

The green debt will also go toward restoring forests and improving biodiversity in southern Chile. Finally, funding is now earmarked for improving a wastewater treatment plant in the town of Caieiras, southeastern Brazil.

Counsel to CMPC

Carey

Partner Diego Peralta and associates Luciano Aguilera and Reiner Baack in Santiago

Counsel to MUFG Bank

Philippi Prietocarrizosa Ferrero DU & Uría (Chile)

Partner Marcelo Armas and associates Daniel Parodi, Santiago Mesías and Vera Yacher in Santiago

Source: Latin Lawyer

Link to publication