Felipe Moro

(The following information was supplied by the firm)

Partner of Carey and co-head of the firm’s Banking and Finance Group. His practice focuses primarily on lending transactions, project financing, structured products and derivative transactions. He also has a vast experience in the area of mergers and acquisitions.

REPRESENTATIVE EXPERIENCE

• Bank of China, Macau Branch, Tai Fung Bank, Bank of China Beijing Haidian Sub-Branch, and other Chinese financial institutions, as lenders, on the USD450 million financing granted to Food Investment, a subsidiary of Joyvio Agriculture, for the acquisition of up to 100% of Australis Seafoods, a major participant in the Chilean salmon industry (the “Acquisition Financing”). Simultaneously, we also advised Bank of China, Macau Branch, as lender, on the USD26.5 million financing granted to Australis Mar, a subsidiary of Australis Seafoods (and indirectly of Joyvio Agriculture), for the acquisition of 100% of Pesquera Torres del Paine, a salmon processing plant located in the Magallanes region of Chile (the “Bridge Loan”). Finally, together with the acquisition of Australis Seafoods by the subsidiary of Joyvio, we advised Bank of China, Macau Branch, as lender, on the USD160 million financing granted to Australis Mar for the refinancing of the existing financial indebtedness of the borrower and other members of the group and funding their corporate and working capital requirements (the “Corporate Refinancing”).
• Scotiabank on the acquisition of the control of BBVA Chile for USD2.2 billion from Banco Bilbao Vizcaya Argentaria, on the mandatory tender offer process for up to 100% of the shares of BBVA Chile, and the further merger of BBVA into Scotiabank Chile, resulting in the latter becoming the third largest private bank in Chile. The acquisition and the following merger required regulatory approvals in Chile (SBIF, CMF and FNE) and Canada.
• Inter-American Development Bank, Overseas Private Investment Corporation, International Finance Corporation, Itaú Corpbanca and its New York branch, Banco de Crédito e Inversiones, Banco del Estado de Chile, DNB Bank ASA and KfW-IPEX Bank, as part of the senior lender group, on the second financial restructuring of the 531MW Alto Maipo hydroelectric project in Chile, which involved the renegotiation and amendment of the terms and conditions of the current financing of the project, estimated at more than USD3 billion.
• Eletrans on an international private offering of notes under rule 4(a)(2) of the Securities Act of 1933, targeted at institutional investors, for an amount equal to USD180 million at an interest rate of 4.06% and due 2037.
• American General Life Insurance Company and other foreign institutional investors on the private offering of USD412 million of Inversiones Latin America Power, subsidiary of LAP group. The Senior Secured Notes were placed at a 5.35% annual rate, due in 2033, under Section 4(a)(2) of the U.S. Securities Act of 1933.
• Latin America Power on a long-term loan for USD306 million to finance San Juan windfarm of 185MW, granted by AB Svensk ExportKredit, Banco Security, DNB Group, KfW IPEX-Bank, Sumitomo Mitsui and Eksport Kredit Fonden, and on a USD30 million credit for VAT obligations, granted by Bci and Banco Security.
• Aela Energía on a long-term loan for USD435 million to finance the construction of two wind farms (Aurora and Sarco) that will inject 299MW to the national grid (SIC and SING), and to refinance the existing loan that Cuel Wind Farm has with China Development Bank.
• DNB Group (Chilean agency), Banco BICE, Corpbanca New York Branch, and Caixabank on the closing and first disbursement under the financing of the development, design, engineering, procurement, construction and maintenance of an approx. 60MWp photovoltaic solar generation facility known as Laberinto Este and an approx. 86MWp photovoltaic solar generation facility known as Laberinto Oeste, for a combined installed capacity of 146MWp, both of which are installed in Sierra Gorda, Antofagasta, and its related transmission line and civil engineering works, for up to USD187 million.
• Pattern Energy on a credit facility for USD197 million approx. granted by Crédit Agricole Corporate and Investment Bank, Société Générale and Sumitomo Mitsui Banking Corporation, to finance the construction, initial operation and costs related to the development of its 122MW Conejo solar plant in the Atacama Desert. To finance the VAT associated to the construction, Banco Santander granted a USD10 million loan.
• The Bank of Nova Scotia and Scotiabank Chile on the negotiation of a 15-year business alliance with Cencosud, Cencosud Retail and other subsidiaries to develop the consumer credit business in Chile. Additionally, Scotiabank Chile granted a loan for up to USD3 billion to Cencosud.
• J.P. Morgan Chase Bank on a USD2.5 billion loan granted to Cencosud, Chile’s largest retailer, for the acquisition of Carrefour in Colombia.
• OPIC, IADB, Trust Fund for the Clean Technology Fund and Corpbanca on the financing of María Elena project, a photovoltaic power plant of approx. 72.8MW, located in the II region of Chile, owned by SunEdison.
• Pattern Energy Group and AEI on a USD215 million credit agreement for the financing of a 115MW wind farm called El Arrayán.

AWARDS AND RECOGNITIONS

• Recognized as Best Individual Lawyer in Project Financing in Chile, Client Choice (2020).
• Recognized in Banking, Leading Lawyers.
• Recognized in Banking & Finance and Projects, Chambers Latin America.
• Recognized in Banking & Finance; Project Finance and Infrastructure; and Corporate and M&A, Latin Lawyer 250.
• Recognized as Thought Leader in Corporate and M&A, LACCA.
• Recognized in Banking & Finance, Project Finance and Capital Markets, IFLR1000.
• Recognized in Banking and Finance, Capital Markets, Investment, Project Finance and Development, Best Lawyers.
• Recognized in Project Finance, Who’s Who Legal.

ACTIVITIES AND MEMBERSHIPS

• Professor, Master of Business Law, Universidad de los Andes (2014-2015).
• Foreign associate, Finance Group, Shearman & Sterling (2005-2006).
• Assistant professor of Securities Market Law, Universidad de Chile (2004).
• Professor of Introduction to Law, School of Administration, Universidad del Desarrollo (2002).

PUBLICATIONS

• Co-author of “Banking Regulation in Chile: Overview”, Practical Law Country Q&A, Thomson Reuters (2020).
• Co-author of the chapters on the regulators of the Chilean financial sector: The Financial Market Commission, Superintendency of Pensions and Central Bank, published in Latin Lawyer Regulators (2020).
• Co-author of the article “Mind the Gap: Basel III and its Implementation in Chile”, Butterworths Journal of International Banking and Financial Law (2016).
• Author of “Developments in the Financial Markets”, IFLR (2010).
• Author of “Public Offering of Securities”, Diario Estrategia, Chile (2003).
• Author of “Development of Corporate Governance in Chile: Public or Private Role?”, Diario Estrategia, Chile (2003).
• Author of “Ethics, a Sound Business”, Interview, Revista Capital, Chile (2002).
• Author of “Discussion about the Derivative Action in Chile”, Latin Lawyer Online (2001).

RELATED AREAS

• Banking and Finance
• Infrastructure and Project Development
• Capital Markets

EDUCATION

• Law, Universidad Católica de Chile.
• Graduate studies, School of Economy and Administration, Universidad de Chile (2000).
• LL.M., The University of Chicago (2005).

ADMISSIONS

• Chile (2000).

LANGUAGES

• Spanish.
• English.