APM Terminals talks loan in Peru

APM Terminals talks loan in Peru

Loans Project & Infrastructure Finance Debt Corporate & Sovereign Strategy Peru Andean Europe

APM Terminals has opened preliminary discussions with banks, looking at a new $200m loan to pay off debt from the Terminal Muelle Norte concession at the port of Callao in Peru, LatinFinance has heard.

The talks are still in the early stages, and the Dutch port terminal operator has not yet issued any requests for proposals or settled on a specific tenor, said a source close to the deal.

The deal could take shape as a bilateral loan, a club deal or a syndicated loan, the source added.

APM Terminals and its partners won the 30-year concession in April 2011, pledging to invest $749m to expand the existing facility. The other shareholders in the consortium are Callao Port Holding, which is also Dutch, and the local company Central Portuaria.

The port terminal in Callao increased container volume by almost 50% between 2015 and 2017. It now handles around 39.8% of total container traffic and 74% of non-containerized general cargo in Peru, excluding minerals.

DP World, which also operates a container terminal in Callao, is looking to get a $250m loan to pay off debt and fund its expansion plans.

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