Marval advised a group of banks in multiple loans for a sum of USD 35 million granted to Araucaria Energy and SPI Energy
Marval, O'Farrell & Mairal advised Banco de la Ciudad de Buenos Aires, Banco de la Provincia de Buenos Aires and Banco de Galicia y Buenos Aires –that acted as lenders, whether granted or refinanced- on providing multiple loans for an aggregate amount of USD 35 million to Araucaria Energy SA and SPI Energy SA.
In compliance with Argentine Central Bank rules, the loans were granted in US Dollars as the funds proceeding will be applied to the financing of the working capital of Stoneway’s plants located in Pilar, Zarate, Luján and San Pedro.
Stoneway Capital Corporation, Stoneway Energy International LP, Stoneway Energy LP, Araucaria Power Generation S.A., Araucaria Generation S.A., SPI Energy S.A. and Araucaria Energy S.A. guaranteed the borrower’s obligations under the loans.
Marval, O’Farrell & Mairal acted as legal advisor of Banco de la Ciudad de Buenos Aires, Banco de la Provincia de Buenos Aires and Banco de Galicia y Buenos Aires, with partner Roberto E. Silva, Jr., and associates Martín I. Lanús and Agustín López Roualdès.
Araucaria Energy S.A., SPI Energy S.A. and the guarantors were advised by their in-house lawyers Álvaro Eduardo Estivariz and Joaquín Astarloa.