Clifford Chance has advised the mandated lead arrangers on the financing granted to Sociedad Puerto Industrial Aguadulce, a company backed by PSA International (formerly Port of Singapore Authority) and International Container Terminal Services (ICTSI), in connection with the expansion of the multi-purpose Port of Aguadulce located in Buenaventura, Colombia.
The transaction closed on 5 April, for USD $304,000,000, and involved the jurisdictions of Colombia, the US, Singapore and Spain.
Fabricio Longhin, lead partner in the transaction, commented: “Aguadulce is a strategically important port in Buenaventura on Colombia’s Pacific coast with access to the ‘Golden Triangle’ of the Colombian economy. This project financing required the implementation of innovative features to account for a substantial port expansion for an operational asset. We are pleased to have brought together a global team to advise on the financing to support this project, which is crucial for trade in the region.”
Banco Bilbao Vizcaya Argentaria Colombia, The Bank Of Nova Scotia, ING Capital LLC, Banco Santander and Clifford Capital PTE. LTD. acted as mandated lead arrangers, advised by Philippi Prietocarrizosa Ferrero DU & Uría Colombia (PPU).
Other participating law firms were Linklaters and Brigard Urrutia, as advisors to the sponsors, internationally and locally, respectively.
Clifford Chance’s team was led by partner Fabricio Longhin, assisted by a multi-jurisdictional team that included:
- Washington, DC: associate Alejandro Leon, special legal consultant Pedro Buchanan and associate Andrew Cotton (Projects), partners Stephen Nickelsburg and José García Cueto and special legal consultants Florencia Bohl and Hernan Chiriboga Novillo (Litigation & Dispute Resolution), and partner Megan Gordon and counsel Catherine Ennis and Jacqueline Landells (Sanctions and Compliance)
- New York: partner Darren Littlejohn and associates Elizabeth Kennedy and Andrew Des Rault (Derivatives), partner Paul Koppel and associate Milica Pavlovic (ERISA) and partner Avrohom Gelber (Tax)
- Madrid: partner Jose Guardo and associate Enrique Pais (Banking & Finance)
- Dusseldorf: partner Mathias Elspaß and associate Frederic Maximilian Mainka (Environmental)
- Singapore: partner Andrew Hutchins, counsel Jervis Chan and associate Josephine Tang (Banking & Finance)
PPU’s team was led by partner Carlos Padilla, assisted by associates Daniela Mejía, Ana Gabriela Franco, Daniel Stand, Daniel Vargas and Tomás Velásquez.
