Odebrecht Clinches Panama Road Financing

Odebrecht Clinches Panama Road Financing

Brazil Panama Loans

Odebrecht Panama has closed a $300m, 4-year revolving credit facility to support a $782m road construction project. The facility comes with pricing of Libor plus a margin that takes into account the government risk and related structuring costs, says a person familiar with the deal, who declined to elaborate further on the rate. The proceeds will be used to buy promissory notes from the Republic of Panama, which will be sold to banks and used toward construction financing, operation and manageme

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