CIFI, a non-bank financial institution with more than 15 years of experience in financing infrastructure and energy projects in Latin America and the Caribbean, successfully closed a US$60MM senior and mezzanine loan facility in favor of San Francisco, S.A. (“San Francisco”), company in charge of operating Paraguay’s first private containerized port, Caacupe-mi.

US$40MM of the facility were used to refinance existing financial debt, while the remaining US$20MM will be use in the design, construction, equipping, commissioning and operation of a new containerized port facility in Villeta, 40km south of Asuncion.

Caacupe-mi is the first private port in Paraguay, founded in 1980, with almost 35 years of experience in the handling of containers, vehicles and general cargo. Over the last years, Caacupe-mi has grown to become one of the most important containerized ports in Paraguay, implementing an aggressive marketing, sales and multiple-location strategy as well as providing an array of auxiliary port-related services to its clientele.

CIFI together with Deutsche Investitions- Und Entwicklungsgesellschaft MBH (“DEG”) acted as a Mandated Lead Arrangers and Lenders in the syndicated facility, bringing other Lenders such as Finnish Fund for Industrial Cooperatoinn Ltd. (“Finnfnud”) and Cordiant Capital Inc. (“Cordiant”).

CIFI is committed to foster sustainable development in the region and has advised Caacupe-mi to improve its environmental and social performance obtaining the certification ISO 14001 and in the process of being OHSAS 18001 certified. Thanks to the commitment of the Company’s management in the environmental and social sustainability, the project has generated 516 full time jobs, of which 66 were jobs created in 2017, and employment is expected to increase in 2019 with the construction of a port in Villeta. The Company, has invested in education programs and community development initiatives.

About San Francisco: 

San Francisco is one of the most important companies in the Paraguayan containerized port sector, currently operating ports in the cities of Asuncion, Pilar and with new operations, soon to open in Villeta. The company offers services such as the loading and un-loading of containerized cargo, handling of bulk cargo, ample storage location on their Logistic Park, and handling and storage of fertilizers, all with the best-in-class technology producing real time data and communication amongst its operations.

Project details:

  • Borrower: San Francisco S.A. operating under its brand name Caacupe-Mi
  • Sponsor: Mr. Fernando Leri Frizza (Paraguay)
  • Project Cost: US$60M
  • Co-Arranger: CIFI and Deutsche Investitions- und Entwicklungsgesellschaft (DEG)

Participants:

  • CIFI
  • DEG
  • Finnish Fund for Industrial Cooperation (FINNFUND) – Finland
  • Cordiant Capital – Canada

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