Carey advises Baillie Lodges on Chilean tranche of approximately USD 200 million multicurrency refinancing

Carey advised Baillie Lodges on the Chilean aspects of an approximately USD 200 million multicurrency refinancing granted by Deutsche Bank, aimed at financing the operation and expansion of its luxury hotel chain in Australia, New Zealand and Chile, as well as refinancing existing indebtedness.

The financing was structured through multiple tranches denominated in Australian, New Zealand, Canadian and U.S. dollars. The Chilean tranche, Facility G3, amounts to USD 60 million, with Katari acting as borrower. Baillie Lodges cre?dito Katari

The transaction involved seven jurisdictions —Australia, New Zealand, Chile, the United Kingdom, Luxembourg, Canada and the United States— each with different legal systems and regulatory requirements. From the Chilean perspective, the transaction also required coordinating the refinancing of existing loans and negotiating repayment with local creditor banks. Baillie Lodges cre?dito Katari

Ashurst LLP and Carey acted as counsel to Baillie Lodges, while Allens and Larraín y Asociados advised the lender side. Baillie Lodges cre?dito Katari

The Carey team included partners Marcos Ríos and Felipe Moro, together with associates Constanza Rojas, Magdalena Menchaca and Laura Infante.

Ashurst’s team included partner Campbell Johnston, counsel Cara Stevens, and associates Mitchell Maros and Jordan Rahmel.

The Allens team comprised partner Ben O’Hoy, senior associate Yoni Baker, managing associate Tristan Kelly, and associate William Smith.

Larraín y Asociados’ team included partner Diego Garay and associates José Spoerer, Ana María Sepúlveda, Teresita Vinagre, Eugenio Avendaño and Pablo Figueroa. Baillie Lodges cre?dito Katari

The transaction closed on 3 February 2026. Baillie Lodges cre?dito Katari

Key facts

• Client: Baillie Lodges
• Overall financing: approximately USD 200 million
• Chilean tranche: USD 60 million
• Chilean borrower: Katari
• Lender: Deutsche Bank
• Jurisdictions involved in the structure: Australia, New Zealand, Chile, the United Kingdom, Luxembourg, Canada and the United States
• Closing date: 3 February 2026
• Counsel to Baillie Lodges: Carey and Ashurst LLP
• Counsel to the lender: Allens and Larraín y Asociados