OPIC Board Approves $350 Million Loan to Brazilian Port
The Board of Directors of the Overseas Private Investment Corporation (“OPIC”) recently approved a $350 million direct loan to Açu Petróleo S.A. to support the development of an oil transshipment terminal at the Açu Port in the state of Rio de Janeiro. Delphos International is advising Prumo Logística S.A., the developer of Açu Port, on the transaction. The project is Brazil’s first private oil transshipment terminal and will provide an environmentally sustainable solution for the ship-to-ship transfer of oil. The transaction would represent the second largest OPIC financing in Latin America.