Clifford Chance

Clifford Chance advises on financing for expansion of Port of Aguadulce in Colombia

Global law firm Clifford Chance has advised Banco Bilbao Vizcaya Argentaria Colombia S.A., The Bank Of Nova Scotia, ING Capital LLC, Banco Santander, S.A. and Clifford Capital PTE. LTD., as mandated lead arrangers, in the financing provided to Sociedad Puerto Industrial Aguadulce S.A, a company backed by PSA International (formerly the 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.

Partner Fabricio Longhin 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."

Working with Longhin was a multijurisdictional, multi-practice team, including:

• 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)

Clifford Chance has advised, and is advising on many infrastructure financing transactions in Colombia, including on the Buga-Buenaventura 5G highway project, the long-term financing for the Bogotá-Girardot toll road, the Pamplona-Cúcuta 4G toll road project, the Rumichaca-Pasto 4G toll road project and the Rutas al Sur highway project. The firm also advised on a complex debt refinancing for a strategic port in Cartagena, on the financing of the US$672.4 million Antioquia Port project in Colombia and on the financing for the first line of the Bogota metro.