Gómez-Pinzón Abogados acted as Colombian counsel to Canacol Energy Ltd., the borrower, and Geoproduction Oil and Gas GmbH, Shona Energy Colombia and CNE Oil & Gas S.A.S., the guarantors, in connection with the execution of a credit and guarantee agreement, entered into with Credit Suisse AG Cayman Islands Branch, the administrative agent and lender. The disbursement of the $30m loan took place on December 11th.
The loan will be used to finance the acquisition of the gas processing facility Jobo 2 and the construction and ramp up of the gas processing facility Jobo 3, both located in the Cordoba department.
The Gómez team was led by partners Daniel Londoño and Germán Villamil, senior associate José Luis Palacios and associates Jaime Hernández and Andrés Consuegra.
DLA Piper US served as New York counsel to the borrower and the loan parties, while Skadden, Arps, Slate, Meagher & Flom and Brigard & Urrutia acted as New York and Colombian counsel to the administrative agent and lender respectively.