Two offices of Clifford Chance LLP and Mendoza in Bogotá have helped the Colombian municipality of Barranquilla obtain a US$100 million loan to repay funding that it previously obtained for a set of public infrastructure projects.
Philippi Prietocarrizosa Ferrero DU & Uría (Colombia) advised international lender Deutsche Bank.
Latin Lawyer understands that US firm Mayer Brown LLP also advised Deutsche Bank, but could not confirm this before publishing.
The deal closed on 14 September.
Barranquilla will use the proceeds of the transaction to make repayments on a loan – also worth US$100 million – that it obtained a year ago. Barranquilla initially obtained the financing to fund public infrastructure projects that formed part of the city’s Soy Barranquilla development plan – a city-wide project aimed at boosting investment in the city’s health, education, housing and public service sectors. The plan was introduced to drive capital back into the local economy after the covid-19 pandemic.
The fourth-most populous city in Colombia, Barranquilla is the capital of the Caribbean coastal region of Atlántico.
Counsel to Barranquilla
Clifford Chance LLP
Counsel Alberto Haito in Washington, DC, and associate Joyce Moore in New York
Partner Mateo Mendoza and associates Maria Lucia Amador and Maria Esther Eljach in Bogotá
Counsel to Deutsche Bank
Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)
Partner Hernando Padilla and associate Daniela Mejía in Bogotá