Chadbourne & Parke Represents IFC, FMO, DEG in $85 Million Financing P…

Chadbourne & Parke Represents IFC, FMO, DEG in $85 Million Financing Package For Marine Terminal and Distribution Network in Turkey Chadbourne & Parke is representing a consortium of multi-lateral agency lenders, including the International Finance Corp., in an $85 million financing package to Opet Petrolcülük A.S., an importer and retail distributor of petroleum products in Turkey. Working on the project for Chadbourne are Project Finance partner Denis Petkovic and associate Sasha Ferrigan in the London office and Project Finance partner Noam Ayali of the Washington, DC, office. The financing, announced April 6, will support the construction of a greenfield marine terminal and tank storage facility and the acquisition of a small terminal, expanding Opet's oil products storage capacity and retail distribution network. Besides the IFC, Chadbourne is also representing Deutsche Investitions -- Und Entwicklungsellschaft mbH ("DEG") of Germany, and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., ("FMO") of the Netherlands. The $85 million financing package is comprised of loans from FMO and DEG for $10 million each, and a $65 million facility from IFC consisting of a $25 million A-Loan for IFC's own account and a syndicated B-loan with six other commercial banks for $40 million. According to IFC, the tenor of the B-loan sets a new benchmark for Turkey since the late 1990s and will help structure upcoming financings for other Turkish corporates.

Chadbourne & Parke Represents IFC, FMO, DEG in $85 Million Financing P…

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