by Nick Flitterman

US Ex-Im Bank has announced that its Board of Directors has approved a $2.84 bilion direct loan as part of the debt financing for the $5.18 billion Reficar Expansion and Upgrade Project at Cartagena on Colombia’s Caribean coast.

The financing  will support the purchases of equipment and services from over 150 large and small U.S. engineering/design, equipment supply, contracting and process license firms, including Chicago Bridge & Iron, Foster Wheeler, Exxon/Mobil and UOP. Portland Advisers is acting as financial adviser to US Ex-Im Bank.

To view the official US Ex-Im Bank press release, click here.

For further information, contact Portland’s Head of Energy at geoff.knox@portlandadvisers.com

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