Andean Projects Tap Reserve-Backed Loans

Andean Projects Tap Reserve-Backed Loans

Andean

Two Andean-based energy producers claim to be within reach of a combined $340m in project loans. Both transactions make use of reserve-based lending structures, whereby the borrower pledges reserves of gas or oil to obtain bank funds. Pacific Rubiales, a Canadian headquartered company has pledged Colombia-based oil and gas reserves to raise $250m in 4-year funds at Libor 550bp. The club deal, being led by BNP Paribas, is heard to have garnered a few commitments, but is hoping to bring on board a

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial