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Peru LNG is the country’s biggest project |
The liquefied natural gas project, which will export gas from the Camisea field, and is the largest foreign direct investment in Peru, will be funded through a mixture of loans, equity investment and a local-currency bond. This should be issued in the second half of the year, market conditions notwithstanding.
Peru LNG has secured $2.25 billion in loans from third parties – export credit agencies, multilateral institutions and commercial banks – which signed a deal on June 26.
Among the multilaterals is the Inter-American Development Bank, which signed loans totalling $800 million through two equal A and B tranches. It constitutes the largest such transaction for a Latin American borrower in the bank’s history – before this deal there was a $200 million limit per borrower.
"When the IDB was first approached about this project, it was obvious it...
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