Major Latin America Energy Deal Handled by Milbank

MarineLink.com
Wednesday, October 16, 2013
Dan Bartfeld: Photo courtesy Milbank

In support of energy infrastructure in Latin America, Milbank, Tweed, Hadley & McCloy LLP represented Itaú BBA S.A. in providing a $370 million loan for construction of a new multipurpose port facility and terminal in Cartagena Bay, Colombia.

The new Puerto Bahia terminal, located on Colombia’s northern Caribbean coast, is one of the most significant investments in the country’s energy infrastructure sector to date.  When operational in early 2015, the crude oil and products terminal will have a storage capacity of 3.0 million barrels of crude oil and derivatives and projected port throughput of 54.0 million barrels per year.  The Puerto Bahia terminal will also include facilities for the handling of dry bulk and general cargo, in addition to a fully interconnected tank farm with direct access to local refineries and a crude oil pipeline.

Puerto Bahia is being developed by Pacific Infrastructure, a company specializing in the development of port, transportation and storage assets in Colombia, whose largest shareholder is Pacific Rubiales Energy Corp., the largest independent oil and gas exploration and production company in Colombia.  The port will be a key hub in transporting crude oil assets, including heavy crude from Colombia’s Rubiales, Piriri and Quifa oil fields.

Milbank Project Finance partner Dan Bartfeld led the transaction on behalf of Itaú BBA.  Milbank previously represented a group of international lenders in providing $2.5 billion in debt finance for the expansion of the nearby Cartagena Refinery.
“We’re excited to play a key advisory role to Itaú BBA in the Puerto Bahia financing.  Colombia continues to emerge as a major player in the Latin America energy infrastructure sector, and development projects continue to surge,” Mr. Bartfeld said.

About Milbank
Milbank, Tweed, Hadley & McCloy is a leading international law firm that has been providing legal solutions to clients throughout the world for more than 145 years. Milbank is headquartered in New York and has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Singapore, Tokyo and Washington, DC.

Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand,

FTA Approves WSF Ferry Terminal Plans

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves

Clarksons PLC Perform Strongly in 1H 2014

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.

Legal

Indian Investigators Drop Case Against Billionaire Birla

India's Central Bureau of Investigation (CBI) has closed a coal scam case against billionaire Kumar Mangalam Birla and a former top bureaucrat that emerged in

Oil Train Regulation Passes in California

California lawmakers on Friday passed legislation requiring railroad companies to tell emergency officials when crude oil trains will chug through the state.

Skangass Granted Permission for LNG Terminal

The Swedish Government (Länsstyrelsen in Dalarnas Län) has granted Skangass permission to build and operate a new Terminal for LNG (Liquefied Natural Gas) within the harbour in Gävle, Sweden.

Ports

FTA Approves WSF Ferry Terminal Plans

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves

Clarksons PLC Perform Strongly in 1H 2014

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.

Kalmar to Supply 4 RTGs to Super Terminais, Brazil

Kalmar, part of Cargotec, will deliver four E-One2 Zero Emission rubber-tyred gantry cranes (RTGs) to Super Terminais in Manaus, Brazil. The 8 million USD order

Energy

ABB Celebrates 125th Anniversary in Finland

ABB is celebrating today its 125th anniversary in Finland. Founded in 1889 in Helsinki by entrepreneur and inventor Gottfrid Strömberg, ABB Finland is today

China's National Carbon Market to Start in 2016

China plans to roll out its national market for carbon permit trading in 2016, an official said Sunday, adding that the government is close to finalising rules

Fukushima Fallout: Resentment Grows

Like many of her neighbours, Satomi Inokoshi worries that her gritty hometown is being spoiled by the newcomers and the money that have rolled into Iwaki since

People in the News

Clarksons PLC Perform Strongly in 1H 2014

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.

ABB Celebrates 125th Anniversary in Finland

ABB is celebrating today its 125th anniversary in Finland. Founded in 1889 in Helsinki by entrepreneur and inventor Gottfrid Strömberg, ABB Finland is today

Fukushima Fallout: Resentment Grows

Like many of her neighbours, Satomi Inokoshi worries that her gritty hometown is being spoiled by the newcomers and the money that have rolled into Iwaki since

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2413 sec (4 req/sec)