PPU represents Deustsche Bank in 100m financing to the city of Barranquilla

Philippi Prietocarrizosa Ferrero DU & Uría and Mayer Brown have assisted Deutsche in its loan to the Mayor’s Office of Barranquilla

 Philippi Prietocarrizosa Ferrero DU & Uría, in conjunction with Mayer Brown, has represented Deutsche Bank in its financing to the Special, Industrial and Port District of Barranquilla to finance public infrastructure projects.

This transaction, closed on 15 September, had a value of $100 million US dollars. In addition, the borrower retained the services of Clifford Chance (New York and Washington, D.C.) and Mendoza Abogados (Bogotá). PPU and Mayer Brown acted through their offices in Bogota, as well as Washington, D.C., Chicago and Mexico City respectively.

The projects to be built by the Mayor’s Office of Barranquilla are included in the Development Plan 2020-2023, among them is ” Soy Barranquilla” (“I am Barranquilla”), a programme designed as a result of the COVID-19 pandemic. It is also intended to finance social investment projects in the sectors of health, education, security, housing and public services, and boost the recovery of the local economy.The amount needed for its implementation is estimated at $4,875.4 million USD.

In May, the mayor’s office of Barranquilla obtained $145.7 million from the French Development Agency (AFD) for the government programme. The Colombian government is also promoting the National Development Plan 2018-2022 with AFD support.

Lead partner Hernando Padilla (pictured) affirmed that the transaction has an innovative character because it supports the development of the municipality of Barranquilla and its development plan: “PPU remains committed to the reactivation of the country and, in particular, to social investment”.

Clifford Chance’s team consisted of partner Hugo F. Triaca, counsel Alberto Haito and Greg Kahn, and associates Julián Hurtado Vallejo and Luis Fortuño.

Mendoza Abogados’ team included partner Mateo Mendoza, senior associate Clara Robledo-Sánchez and associate María Esther Eljach Alvear.

Mayer Brown’s U.S. team was comprised of partners Gabriela Sakamoto and Juan Pablo Moreno and associate Ermelinda Villagomez. Mexico’s team included associate Luis Andres Schrader.

PPU’s team was led by partner Hernando A. Padilla Gómez, assisted by associates Ximena González Cardozo and Paula Buriticá Caicedo.