South American financing options abound
A global law firm has negotiated an energy infrastructure deal in South America which will see construction of a major new port facility to handle crude oil assets from Colombia’s Rubiales, Piriri and Quifa oil fields.
International law firm Milbank advised the Brazilian bank, Itaú BBA, to cover the US$370m loan needed for the construction of the new Puerto Bahia port in Cartagena Bay, Colombia – one of the largest investments to date in Colombia’s energy sector.
It’s also responsible for representing the lenders who provided US$2.5bn worth of debt financing for the expansion of the nearby Cartagena Refinery, another development project in the continued surge in the Latin America energy sector.
But the law firm says that this type of project financing is not just limited to these types of project, it’s also available to port and terminal operators as a way of drumming up much needed funds for new terminals and investments in infrastructure.
The company’s expertise also extends to asset disposition, restructuring, credit enhancement and political risk mitigation techniques.
Milbank handles a vast range of project work in the US, Latin America, Asia and the Middle East. It has handled finance and development for wind and solar farms and handled the 2011 US$786m financing of the Embraport terminal in Brazil’s Santos Port.
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