To authorise the borrowing a consortium of New York based banks required a technical review of the port development and monitoring to provide an overview to the management and mitigation of project risks throughout construction and operation.
We undertook a thorough technical review of the sponsor’s proposals for procurement of the expansion works. Risks were identified and the sponsor’s means for management and mitigation were assessed as adequate to permit borrowing. Through the development period we monitored construction and operation, considered the sponsor’s mitigation of the evolving risk profile during the term of the loan, and assessed for the lenders the appropriateness of the sponsor’s management action.
We developed close working arrangements with the sponsor which led to a successful overview of the project. The excellence of our work was recognised when the project was named Latin American Transport Transaction of the Year in the IJGlobal (Infrastructure Journal and Project Finance Magazine) Americas Awards of 2014.