KUALA LUMPUR, July 8 -- Global Infrastructure Partners Capital Solutions Funds I and II (GIP CAPS) has closed on a US$110 million secured holding company term loan investment in Puerto Antioquia Holdings S.A.S. (US$1 = RM4.28)
According to a statement, Puerto Antioquia is a greenfield multipurpose port terminal to be strategically located in the Northern coast of the Department of Antioquia, Colombia.
The Project is owned by a consortium consisting of CMA Terminal Holdings S.A.S, Eiffage S.A, Puertos Inversiones y Obras S.A.S. and a private consortium of banana producers and exporters (together, the ‘Sponsors’).
Astris Finance, financial advisor to the Sponsors, has coordinated project development and financing.
Proceeds from the GIP CAPS’ holding company investment, together with senior debt provided by a group of multilateral banks and equity capital from the Sponsors, will be utilised to fund construction of an approximately US$725 million port facilities project.
“Puerto Antioquia is a landmark project for Colombia and is expected to change the dynamics of trade in the country, given its strategic location. It is expected to capture immediate cargo and create a significant positive impact in the Uraba region,” said GIP Partner and Chair of GIP Credit, Jennifer Powers.
“The Port will provide significant socio-economic impact to the region, as evidenced by multilateral financing support from its senior lender, one of the most important banks in Latin America.”
-- BERNAMA
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