PRESS RELEASE
18 April 2023

Shearman & Sterling Advises Volcan Compañía Minera In Chancay Port Project Financing

AO
A&O Shearman

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
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...
United States

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

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.

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