Cases & Deals

Citibank and BBVA-led syndicate of lenders provide $150 million financing to ENAP for expansion of offshore O&G facilities

Clients Citibank N.A. and Banco Bilbao Vizcaya Argentaria, S.A. Grand Cayman Branch

Jones Day advised Citibank N.A. and Banco Bilbao Vizcaya Argentaria (BBVA) and certain of their respective affiliates as co-lead arrangers and as lenders in connection with a US$150 million multi-draw term loan financing to ENAP Sipetrol Argentina S.A., a subsidiary of the Chilean state-owned company Empresa Nacional del Petróleo, a leading vertically integrated oil and gas E&P company in Latin America and the guarantor of the borrower's obligations under the loan facility. The proceeds of the loan draws will be used to finance capital expenditures related to the expansion of offshore oil and gas exploration and production facilities co-owned by the borrower and YPF S.A.

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