Linklaters LLP represented Corporacion Andina de Fomento, a Latin American multilateral development bank, in connection with a US$237.5m A/B structured loan under New York law to Pan American Energy LLC, Argentine Branch, the second largest producer of oil and gas in Argentina. The B Loan tranche was participated by CAF to a syndicate of lenders, comprised of ICBC, Credit Agricole, Natixis and Banco Itaú. The proceeds of the loan will be used by the borrower to fund capital expenditures in connection with the continued development and production of the Cerro Dragon block in the Argentine provinces of Chubut and Santa Cruz. The transaction closed on January 24, 2014.
The Linklaters team was led by partner Conrado Tenaglia and associates Nilo Barredo and Adriana Maestas in New York.
