![Milbank LLP [Munib Hussain]](https://www.milbank.com/a/web/pM5pprayLmJkBXjd9AFpHD/8NVAQG/munib-hussain-lon-web_new-4853-8720-0678-v1.jpg "Milbank LLP [Munib Hussain]")
Dual currency loan, including US Dollar and Chilean Peso tranches, finance airport’s expansion
Milbank, Tweed, Hadley & McCloy LLP represented the lenders in connection with the financing for the expansion of the Arturo Merino Benítez International Airport in Santiago, Chile, the country’s largest and busiest international airport.
The lenders, advised by Milbank, included Banca IMI – London Branch, CaixaBank S.A., Crédit Agricole Corporate and Investment Bank, Banco Santander S.A., Société Générale, Banco de Crédito e Inversiones, Banco Santander – Chile and Banco BICE. The airport is owned by the Chilean State and, following its successful bid, has been operated since October 2015 by Nuevo Pudahuel, a consortium of companies who sponsored the expansion project, including VINCI Airports S.A.S, Aéroports de Paris Management S.A. and Astaldi Concessioni S.p.A. The borrower is Sociedad Concesionaria Nuevo Pudahuel S.A.
The financing includes a pari passu US dollar tranche of $275 million and a Chilean peso tranche of CLP 154.2 billion.
The Milbank team was led by New York Project Finance partner Carolina Walther-Meade and associates Fernando Capellão, Carolyn Miller, and Jennifer Figueroa and London Project Finance associates Munib Hussain and Kilian de Cintre; New York Tax partner Andrew Walker and associate Michael Goon; Environmental partner Matthew Ahrens and associate Meghan Gabriel; Transportation partner Dara Panahy and associate Bijan Ganji and Tax partner Joel Krasnow on ERISA matters.
Ms. Walther-Meade said: “We’re excited to be facilitating financing for another significant infrastructure project in Chile, developed by top notch sponsors and a diverse bank group, in the expansion of the country’s largest airport as a gateway across the Americas and Europe.”
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm that provides innovative legal services to clients around the world. Founded in New York 150 years ago, Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Seoul, Singapore, Tokyo and Washington, DC.
Milbank’s lawyers collaborate across practices and offices to help the world’s leading commercial, financial and industrial enterprises, as well as institutions, individuals and governments, achieve their strategic objectives
