Paul Hastings LLP represented Prumo Logistica, a Brazilian port operator, on an 18-year, $350 million non-recourse financing with The Overseas Private Investment Corporation (OPIC).
The non-recourse debt facility will enable the development of an oil transshipment terminal at the Acu Port in the state of Rio de Janeiro. The project company, Açu Petróleo S.A., has entered into a long-term agreement with BG Brasil to transfer oil from ship to ship, which will subsequently be delivered worldwide.
OPIC acted as sole mandated lead arranger and lender on the transaction, which marks the agency’s second largest financing in Latin America to date.
The Paul Hastings team was led by Project Finance partners Roberta Bassegio (Picture) in Sao Paulo and Bob Kartheiser in New York, and included associates Thomas Sines and Inho Ko.
Law Firms: Paul Hastings;
Clients: Prumo Logistica S.A.;