Panama Petroterminal Secures Project Funds

Panama Petroterminal Secures Project Funds

Panama

Petroterminal de Panama (PTP) has signed a $375m loan due 2018 to reconfigure an oil pipeline and build associated storage facilities. The syndicated project finance deal through HSBC as MLA and bookrunner priced at the higher of Libor+425bp and 6.75%, and is due July 15 2018. According to the leads, it is the largest private project finance transaction in Central America to date and was 1.3x oversubscribed, including 40% participation from locals. In order of size of ticket, participants were:

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