Global law firm White & Case LLP has advised Methanol Holdings (Trinidad) Limited (MHTL), a subsidiary of Switzerland-based Proman group, on a Trinidad and Tobago Dollar (TTD) 1 billion (approximately €133 million) term loan facility.
The facility has a tenor of three years and is unsecured. ANSA Merchant Bank Limited, Scotiabank Trinidad and Tobago Limited and Republic Bank Limited acted as lead arrangers.
The facility was oversubscribed and the lender group was formed by strong local reverse enquiries from a combination of local banks, global banks represented domestically and local asset managers. The proceeds of the financing will serve the working capital and expenses of the MHTL methanol plant facilities.
MHTL is one of the largest methanol producers in the world with a total capacity of more than four million metric tons annually from its five methanol plants located at the Point Lisas Industrial Estate on the twin island Republic of Trinidad and Tobago. The company is the largest supplier of methanol to North America and is a significant supplier to the European market. MHTL continues to be the core operational asset for the Proman group and remains focused on delivering world class methanol and fertilizer products from its diversified asset base in the Point Lisas Industrial Estate.
The White & Case team in Frankfurt which advised on the transaction was led by partner Vanessa Schürmann and included partner Gernot Wagner, local partner Andreas Lischka, counsel Sascha Schmidt and associate Guglielmo Ziani.
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