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.

OPIC’s full press release can be viewed here (https://www.opic.gov/press-releases/2016/opic-board-directors-approves-nearly-12-billion-financing-support-development-investments-globally). Additional information regarding the transaction can be found at IJGlobal (https://ijglobal.com/articles/100941/prumo-log-stica-lines-up-transshipment-debt).