Petacalco Power Plant Coal-Handling Facility

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The project entails the upgrade and redevelopment of the 1800 tph capacity coal-handling transport infrastructure between Port of Lazaro, Michoacan and the Petacalco coal fired power plant in Petacalco, Guerrero, Mexico. Construction began on 21 August 2017, operations of phase one is expected to begin in December 2018, and in May 2019 of phase two. Earlier in 2017, Greenfield SPV I signed a coal transport and storage services agreement for 14 years with the Federal Electricity Commission (CFE), to build and operate a coal transport and storage system (LCPL) in the states of Michoacán and Guerrero, Mexico. Borrower is Greenfield SPV I. Sponsor is Blackrock. . EPC contractors are Techint and Duro Felguera. Financing comprises $125 million 15-year-5-month private placement notes, $65 million 7-year-5-month term loan, $27 million 7-year-5-month letter of credit and $130 million 2-year letter of credit. Bookrunner of the bond and MLA of the loan facilities is Citi. Facility agent is Banamex. Financial close took place on 18 August 2017. Bookrunner of the bond is Citi. MLA of the loan facilities is Citi. Facility agent is Banamex.