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Product: Project Finance – Long Term Senior Loan
Role: Mandated Lead Arranger
Total project cost: USD 60 MM
Environmental Category: B
Impact: 443 jobs
Financial clousure: 2016
CIFI, structured a senior loan and subordinated secured loan amounting to US$ 60MM, in which its participation is US$ 12.5MM. The use of proceeds was to refinance San Francisco S.A.’s (Caacupe-mi) existing long-term debt and other general purposes.
Caacupe-mi is the first private port in Paraguay, founded in 1980, with more than 35 years of experience in handling containers, vehicles, and general cargo. In recent years, it has grown to become one of the most important container ports in Paraguay, implementing an aggressive marketing, sales, and multi-location strategy, as well as providing a variety of additional services.
CIFI and Deutsche Investitions- Und Entwicklungsgesellschaft MBH (“DEG”) acted as co-structurers and lenders within the syndicated group of banks, which also included Finnish Fund for Industrial Cooperation Ltd. and Cordiant Capital Inc.
The Company’s main activities are to load, unload, store, and handle containers, vehicles, and general cargo. Three existing facilities are owned and operated by San Francisco S.A.: I) Caacupe-Mi Asuncion Port (60Ha), II), Caacupe-Mi Asuncion Logistic Park (9 Ha) and III) Caacupe-Mi Pilar Port (20 Ha). The first two are in the City of Asuncion, Paraguay, while the latter is in Department of Ñeembucu, Paraguay.
The company has invested in educational programs and community development initiatives, which have had a positive impact on environmental and social sustainability management.
