Andrews Kurth Kenyon LLP in Washington, DC, and Nicholson y Cano Abogados in Buenos Aires have helped the investment arm of the Inter-American Development Bank grant a US$30 million loan to Argentine port and cargo terminal operator Zarate.
The borrower relied on in-house counsel.
The loan, which closed on 11 December, will be used to finance the planned growth of Terminal Zarate’s container business in Argentina.
The deal indicates Argentina is on track to see more investment this year as its return to the international capital markets has given lenders more confidence in the country’s prosperity: “The deal clearly reflects a more stable and predictable scenario that generates attractive opportunities for development finance institutions and other institutional players in the domestic infrastructure sector, which still demands a massive flow of investments,” says Nicholson y Cano partner Mariano Fabrizio.
Fabrizio predicts an increase in the number of public-private partnership projects to arise in Argentina following the PPP law which was passed in November, adding that “the infrastructure sector still demands a massive flow of investment.” Other lawyers have contested how successful the law will be.
Counsel to IDB Invest
In-house counsel – Diego Noseda
Andrews Kurth Kenyon LLP
Partner Vera Rechsteiner and associates Ignacio Hirigoyen and Siddharth Sethy in Washington, DC
Nicholson y Cano Abogados
Partner Mariano Fabrizio and associates Luca Bella and Gonzalo Rivas Orozco in Buenos Aires