Shearman & Sterling Advises on Two LatinFinance Project & Infrastructure Finance Deals of the Year

Published Date
Oct 6, 2023

Shearman & Sterling advised on two LatinFinance Project & Infrastructure Finance Deals of the Year, the Aguas Horizonte Desalination Plant in Chile – named Loan of the Year and the Chancay Peru Port Project – named Port Financing Deal of the Year. This recognition underscores the outstanding work of the firm’s Project Development & Finance attorneys within its Latin America practice.

Shearman & Sterling’s roles on the transactions included:

  • Representing a consortium of banks in connection with the landmark financing of the Aguas Horizonte Desalination plant. Once built, the project will play a key role in allowing Codelco to accomplish its sustainability development commitments by 2030 which include significantly reducing Codelco’s groundwater consumption. The Shearman team was led by Project Development & Finance partner Augusto Ruiloba.
  • Representing Volcan Compañía Minera in connection with the $975 million project financing of the Chancay Peru Port Project, one of Peru’s largest Project Finance deals in the last decade and is thought to be the country’s largest-ever port financing. This is one of the most important port projects in Latin America and will turn Chancay (located in Huaral, Lima) into a regional trade hub and South American maritime node to Asia and Oceania. The project is projected to boost trade between Peru and China, which is currently facilitated through the China-Peru Free Trade Agreement. The Shearman team was led by Project Development & Finance partners Augusto Ruiloba and Cynthia Urda Kassis.

LatinFinances Project & Infrastructure Finance Awards recognize the most impressive transactions and institutions in a field critical to the region’s economic progress. The awards ceremony took place on October 5 at The Pierre Hotel in New York City.

Content Disclaimer
This content was originally published by Shearman & Sterling before the A&O Shearman merger