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BTP Santos: B sharper
06 May 2011
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[Brasil terminal portuario]
[APM Terminals]
APM Terminals and Terminal Investments signed a $679 million debt package for their greenfield Brasil Terminal Portuario (BTP) project on 17 March. The International Finance Corporation (IFC) arranged the financing, which included the multilateral’s largest ever syndicated dollar B loan. The new container terminal will go a long way towards reducing congestion at the Port of Santos, South America’s busiest, and is yet another sign of commercial banks’ increasing interest in deals in the Latin American powerhouse.
BTP will add 2.2 million TEUs of container and 1.2 million tonnes of liquid bulk capacity at Santos. It will include three berths on land formerly occupied by a dump used by the city of Santos. The port is located in Sao Paulo state, 80km south of the city of the same name, and handled roughly 2.3 million TEUs in 2009.
The IFC provided a $97 million direct A loan with a 16-year...
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