20 December, 2017 Colombia

Intertug takes syndicated loan

Banking, Finance and Capital Markets

Colombia’s Intertug has signed a five-year, $42m syndicated loan from Credit Suisse, Metrobank and Banco Davivienda, according to the law firm PPU.

The loan is backed by some maritime mortgages, a trust agreement and a movable guarantee over commercial establishment, PPU said.

Intertug and its affiliates have businesses in Colombia, Panama, Mexico, Barbados, Brazil and the United States.

PPU was the legal advisor to Intertug in Colombia. The law firms that advised the borrowers in other jurisdictions were Milbank in New York, Gómez Ariza Abogados in Colombia, Miranda & Estavillo in Mexico, Veirano Advogados in Brazil and Clarke Gittens Farmer in Barbados.

Paul Hastings advised Credit Suisse and the other lenders in New York, while Gómez-Pinzón Zuleta Abogados advised the lenders in Colombia, Creel advised them in Mexico, Machado Meyer advised them in Brazil and De Castro & Robles advised them in Panama.