Colombia
Cuatrecasas advises Macquarie on financing provided for Puerto Bahía–Reficar hydrocarbon pipeline
April 5, 2024
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SubscribeCuatrecasas has advised the Macquarie Group on providing Pipeline Investment Ltd. with $30 million of financing for the development, construction and operational start-up of the hydrocarbon pipeline that will connect Puerto Bahía to the Cartagena Refinery (Reficar).
The transaction is a milestone as it will provide a direct connection to one of the largest crude oil refineries in Colombia. This will enable Puerto Bahía to provide Reficar with transport and storage services for hydrocarbons, and Frontera Energy Corporation (FEC) will be able to expand into the midstream oil segment.
The financing was structured as an accordion loan to Sociedad Portuaria Puerto Bahía S.A.’s debt refinancing, provided by a group of creditors led by Macquarie in March of last year.
Thus, international investors confirm their commitment to infrastructure development in Colombia’s hydrocarbon sector.
The Cuatrecasas advisory team was led by the managing partner of the Bogotá office, Manuel Quinche, and lawyers Natalia Arango, Felipe Londoño, Laura Salazar, Manuela Gaitán and Isabel Ocampo (Finance); with the support of partner Ana María Sánchez and lawyers Manuel Gómez, Nicolás López and Santiago Jaramillo (Infrastructure).
April 5, 2024
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