Grenergy Renovables S.A., with Natixis as Sole Lead Arranger, Hedge Provider, LC Issuing Bank and Administrative Agent, have successfully closed senior secured facilities totalling $91 million for an expected 130 MW portfolio of 14 solar photovoltaic ("PV") plants in Chile. The Grenergy portfolio consists of solar projects that will operate under Chile's special regime for distributed generation projects (known as "PMGD").
Day: January 12, 2021
Bankruptcy filings increase by 8.1% in 2020
A total of 5,113 individuals filed for bankruptcy in 2020, 8.1% more than compared to the previous period. Although the rise is the smallest in the last four years, experts say it was mainly due to state aid and largely to the withdrawal of 10% of pension funds. In December, the rise was 3% with a total of 403 bankruptcies.
Labour fines reach $6.7mn in 2020
A total of 55,311 complaints filed with the Directorate of Labour (DT) for violations of labour regulations, was the balance left in 2020. In addition, between 1 January and 30 June 2020, the DT issued fines totalling CH$2.24 billion ($3.1 million) and between 1 July and 31 December of the same year, the figure was CH$2.57 billion ($3.6 million). Thus, during the year the fines issued by the agency amounted to $6.7 million.
10 months after the start of the COVID-19 pandemic, only 50% of hotels have reopened
Almost 10 months after the start of the COVID-19 pandemic in Chile, only half of the hotels nationwide are operating normally. This was revealed in a report by Colliers International, which showed that nearly 50% of accommodation has preferred to remain closed or operate as a nursing home.
Masisa reduces debt to $160mn and diversifies markets in Asia
Masisa reduced its debt from $480 million in June to $160 million to date, thanks to the sale of forestry assets. In June 2020, the company sold forestry assets in Chile for $350 million. The company also plans to expand its presence in Asia, entering markets such as Vietnam, Korea and Japan, as well as maintaining its presence in China.
Chile Económico 