DP World in $300 Million Financing for Container Terminal in Peru

Cleary Gottlieb is representing DP World Callao in connection with its development of a new container terminal in the port of Callao, Peru. The project comprises the development and construction of approximately 600 meters of berth with annual throughput of 1.0 million TEU in Phase I. Callao is the largest and fastest growing container port on the west coast of Latin America.

Cleary Gottlieb advised on both the EPC contract and the $300 million term loan facility for the project. The EPC contract is with a consortium comprising Odebrecht, Saipem and Jan de Nul. The loan facility, which was done as a club financing among eight banks, with HSBC USA, National Association serving as Administrative Agent, was completed on October 2.

The loan facility is guaranteed by parent company DP World Limited.