Chilean iodine mining company Algorta Norte has secured a $54.5 million refinancing for an existing credit agreement. The deal closed June 1st.
Established in 2007, Algorta Norte specializes in iodine extraction and production at its facilities located in Chile’s northern Antofagasta region, which has an annual production of 4,000 tons.
The refinancing package was negotiated with Scotiabank Chile and Itaú Corpbanca. The banks were advised by local law firm Guerrero Olivos, whose team was led by partner Miguel Coddou, with associates Diego Rodríguez and Matías Ríos.
The mining company was advised by law firm Jara del Favero, with a team led by partner Felipe Ovalle, while Scotiabank Chile's in-house counsel was Natalia Mejías, and Itaú Corpbanca's in-house was Juan Enrique Vial.