Peru closes largest-ever ECA financing for state energy company

(Southern Heald, 12 December 2018) State-owned petroleum company Petroperú has closed a US$1.3bn export credit agency-backed financing as part of its US$5bn Talara refinery modernisation project. Deutsche Bank acted as facility agent for the syndicate, which also involves BBVA, BNP Paribas, Citi, HSBC, JP Morgan and Santander as initial mandated lead arrangers, underwriters and bookrunners. It is the largest-ever financing covered by the Spanish export credit agency, Cesce, and is the largest ECA financing arranged in Peru.