Shearman & Sterling advised Volcan Compañía Minera, as sponsor, in connection with the project financing of the multi-purpose port terminal of containers, solid, liquid, bulk and rolling cargo, as well as ancillary facilities being developed in Chancay, Perú by COSCO Shipping Ports Chancay Perú, a company owned by COSCO Shipping Ports and Volcan. This financing represents one of the largest project finance deals in Peru in recent years.

The $975 million financing was provided by a syndicate of lenders including Bank of China, as Joint Mandated Lead Arranger and Bookrunner, and Bank of Communications Co., China Minsheng Banking Corp. Shanghai Pilot Free Trade Zone Branch, and Shanghai Rural Commercial Bank, as joint lead arrangers. The deal was signed on March 28, 2023.

The Team