Barros & Errázuriz advised Banco Security, Penta Vida Compañía de Seguros de Vida and Toesca USD Fondo de Inversion Privado, as lenders, in the financing granted to PE Secondary Deal II SpA, to acquire certain quotas owned by Penta in eight Feeder Funds.

The transaction considered the implementation of a financing structure for the acquisition by the Fund of the quotas in the Feeder Funds through two syndicated loans granted under Chilean law:

• Preferred financing agreement, whose creditors are Penta and Banco Security.
• Subordinated financing agreement, whose lenders are Penta, Banco Security and Toesca.

In addition, B&E played a key role in the negotiation and preparation of the guarantees granted by both parties to ensure compliance with their obligations under the aforementioned financing agreements.