Termomorichal’s $50 Million Refinancing

DLA Piper and Holland & Knight advised on the transaction

Termomorichal, Special Purpose Vehicle engaged in production of energy for Campo Rubiales oil fields, completed its $50 Million refinancing transaction by Banco Santander (Spain) and Sabadell (Miami Branch).

The transaction included a security package in Colombia and the US. Borrower’s project consist in the generation and supply of power for the oil exploitation and ancillary activities carried out by the Ecopetrol in Campo Rubiales.

The Rubiales oil field is located in the Llanos Basin, discovered in 1981 and initially operated by Pacific Rubiales, since July 1, 2016 the field is operated by Ecopetrol and it is the most productive one in Colombia, in 2017 it produced an average of 132,000 barrels per day.

DLA Piper advised Termomorichal with Felipe Quintero (Picture), Nikos Buxeda, Ileana Fernandez Buitrago, Felipe Aristizabal, Daniela Duarte and Silvia Franco.

Holland & Knight advised Banco Santander and Sabadell with Norberto Quintana, José Ávila, Carolina Arciniegas and Andrés Martínez.

Involved fees earner: Nikos Buxeda – DLA Piper; Ileana Fernandez Buitrago – DLA Piper; Felipe Aristizábal – DLA Piper Martínez Beltrán; Daniela Duarte – DLA Piper Martínez Beltrán; Silvia Paola Franco – DLA Piper Martínez Beltrán; Felipe Quintero Serrano – DLA Piper Martínez Beltrán; Carolina Arciniegas – Holland & Knight; José Avila – Holland & Knight; Andrés Martínez – Holland & Knight; Norberto Quintana – Holland & Knight;

Law Firms: DLA Piper; DLA Piper Martínez Beltrán; Holland & Knight;

Clients: Banco Sabadell; Banco Santander Sa; Termomorichal SAS;

Author: Ambrogio Visconti.