7/31/2005
Becker Glynn represents International Finance Corporation in $250 Million Financing of Oil and Gas Producer in Argentina
The firm represented International Finance Corporation (IFC), the private sector arm of the World Bank Group, as international transaction counsel in connection with a $250 million long-term financing of Pan American Energy LLC, Argentine Branch ("Pan American") that was concluded in July 2005.
Pan American, a joint venture company between BP plc and Bridas Corporation, is the second-largest oil and gas producer in Argentina, accounting for approximately 13% of the country's output. The loans provided by IFC will be used by Pan American to finance part of its 2005 capital expenditure program, which is primarily focused on its operations in the Golfo San Jorge basin in southern Argentina.
The firm's representation of IFC included advice and assistance during negotiations and drafting of the loan agreements and related documentation.
