Milbank represented Sumitomo Mitsui Banking Corporation, BNP Paribas, MUFG Bank, Ltd. and The Bank of Nova Scotia as lenders in the acquisition financing of Gasmar S.A. by Inversiones ARCO 4 SpA, an investment vehicle of Arroyo Energy.
Founded in 1992, Gasmar S.A. owns the largest LPG terminal on the Pacific coast of South America and the company’s operations focus on the retail sale of clean fuel used for residential purposes in Chile.
The Milbank team was led by Global Project, Energy and Infrastructure Finance partners Jaime Ramirez and Dan Bartfeld, with support from associates Miguel Duran and John Kim.
Mr. Ramirez noted, “We are honored to have supported the lenders and Arroyo Energy in this acquisition. This transaction underscores the firm’s market-leading capabilities in the Latin American energy sector.”
Mr. Bartfeld added, “Milbank is very pleased to leverage its considerable strength and experience in complex oil and gas acquisition financings in Latin America to bring this transaction to a successful close. This financing is another indicator of the very strong debt markets available for sponsors with desirable assets.”
