News / DP World refinances Callao port terminal

DP World refinances Callao port terminal

🕔 October 22, 2013
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DP World has refinanced Callao container terminal in Peru, according to different sources.

The $350 million DP World Callao S.R.L. financing closed on October 2nd. It is 5-year facility that refinances the existing loan on DP World's Callao terminal.

The MLA (mandated lead arranger) bank group consists of 7 banks: Citibank, Deutsche Bank, DNB Bank, HSBC, KfW IPEX-Bank, Samba Financial Group, and Standard Chartered. DNB Bank acted as documentation and facility agent.

DP World started operations in Callao, near Lima, in May 2010.

Peru's Agencia de Promoción de la Inversión Privada (Proinversion) and the National Port Authority awarded in June 2006 DP World Callao a 30-year concession to develop and operate a new container terminal in Callao port's 'southern zone.

DP World Callao is 70% owned by DP World  (Dubai) through its subsidiary P&O while the remaining 30% is held by Uniport of Bilbao (Spain) through its Peruvian subsidiary - the Unimar group of companies. DP World Callao submitted a proposal to invest $617 million.

The container terminal features a 650m long quay that can accommodate 16m draughts. Its yard spreads over 21.5 hectares. The terminal has the capacity to handle 850,000 TEUs annually.

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