Cleary Gottlieb and Bobadilla Oficina de Abogados acted as counsel to a joint venture comprising DP World and Caucedo Development Corporation in connection with the refinancing of the credit facility for its container terminal on the Caucedo Peninsula of the Dominican Republic.
Cleary advised the joint venture on the original project financing for developing the terminal in 2002 and a subsequent refinancing of the facility in 2012. The recently concluded refinancing consists of a $150 million senior secured credit facility, the proceeds of which were used to repay the prior project facility, fund certain capital expenditures and for general corporate purposes. The transaction signed on March 23, 2017, and closed on March 27, 2017.
The Caucedo port terminal is a state-of-the-art marine container terminal facility located in a free-trade zone. It is one of the largest container terminals in the Caribbean region and the largest in the Dominican Republic, and it serves as a regional shipping hub for delivery of cargo to much of Latin America.
Cleary Gottlieb Steen & Hamilton has advised DP World and Caucedo Development Corporation with Richard Lincer (Picture), David Billington, Jason Factor, Penelope Christophorou, Mary Alcock, Fatema Al-Arayedh, Aslam Rawoof, Kylie Barza, James Corsiglia, Lewis McCorkle, Alex Connelly and Philip Herbst.
Bobadilla Oficina de Abogados has advised DP World and Caucedo Development Corporation with Andrés E. Bobadilla, Ernesto Bournigal Read and Andrés E. Bobadilla Bermúdez.
OMG has advised Citibank, The Bank of Nova Scotia and MultiBank with Leonel Melo, Manuel Troncoso, Lyna Desangles and Ana Cristina Carrera.
Involved fees earner: Leonel Melo Guerrero – OMG; Manuel Troncoso Hernández – OMG; Lyna Desangles Álvarez – OMG; Ana Cristina Carrera – OMG; Richard Lincer – Cleary Gottlieb Steen & Hamilton; David J. Billington – Cleary Gottlieb Steen & Hamilton; Fatema Al?Arayedh – Cleary Gottlieb Steen & Hamilton; Aslam Rawoof – Cleary Gottlieb Steen & Hamilton; Penelope Christophorou – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Kylie Barza – Cleary Gottlieb Steen & Hamilton; Mary Alcock – Cleary Gottlieb Steen & Hamilton; James Corsiglia – Cleary Gottlieb Steen & Hamilton;