Baraona Marshall participated actively in the securitization program of certain receivables originally owned by Chilean generating companies against Chilean distribution companies under the context of Chilean Tariff Stabilization Law.

The transaction comprised the purchase by the Interamerican Development Bank of said receivables and the negotiation, structuring and execution of several documentation under New York Law (purchase agreements, accounts agreement, etc) as well as applicable Chilean contractual documentation.

Under the context of same Chilean Tariff Stabilization Law, Baraona Marshall participated in the securitization program comprising such receivables. The transaction involved the incorporation of a SPV entity under Chilean law which in turn purchased from Chilean electric generating companies certain receivables against Chilean distribution companies. The purchase of the receivables by the SPV was financed by the issuance by the SPV of a 144A/Regulation S zero coupon bond under the US Securities Act of 1933. Another privately place note was thereafter issued by the SPV to finance the purchase of receivables. The transactions involved the execution of several documentation under New York Law (indenture and complements, purchase agreements, accounts agreement, etc) as well as applicable Chilean contractual documentation (mandates, assignment agreements, etc).

The transactions were led by partner Juan Pablo Baraona.