PPU counsels Proparco and FDN on $130m in financing
Philippi Prietocarrizosa Ferrero DU & Uría, through its team in Bogotá, has counselled Societé de Promotion et de Participacion pour la Cooperation Economique (Proparco) and Financiera de Desarrollo Nacional (FDN), as senior lenders, on a $130 million USD financing.
The funds will be used for the acquisition of a fleet of 406 electric buses for two functional units in Fontibón for public transport service in Bogotá.
This transaction was signed on 23 July, and disbursement will take place on 2 August 2022. Brigard & Urrutia acted as counsel to the borrower and sponsors; Clifford Chance, as offshore counsel to Proparco and FDN; Milbank LLP, as offshore counsel to the borrowers and sponsors; Mendoza Abogados, as counsel to Financiera de Desarrollo Nacional as liquidity lender; Alston and Bird, as counsel to Citibank, as intercreditor agent; and Gómez-Pinzón as counsel to Cititrust Colombia, as onshore collateral agent.
Brigard & Urrutia’s team included partner Felipe Alarcón, senior associate Juan Eduardo Gómez, and associates Ricardo Schembri Peña, Isabela Gavriria and Nicolás Giraldo.
Milbank’s team consisted of partner Jaime Ramirez, associate Natalia Ramirez and international associate Alexandra Costa.
Clifford Chance’s team comprised partner Fabricio Longhin and associates Julian Hurtado and Daniel Justus.
Mendoza Abogados’ team involved partner Mateo Mendoza and associates María Esther Eljach and Daniel Restrepo.
Gómez Pinzón’s team was made up of partner Ricardo Fandiño and associate Silvia Robledo.
Alston and Bird’s team was represented by associate Dan Jouppi.
PPU’s team was led by partner Juan Fernando Gaviria (pictured left) and associate Daniela Hernández (pictured right), with support from associates Giuilio Pacini, Juliana Pérez, Gabriela Acuña, Juan Diego Vargas, Camilo Forero, Diana Lozano and Sebastián Gallo.
