GNL Quintero Seeks Project Loan

Codelco, Metrogas and ENAP, the winners of the concession to build a new LNG terminal in Chile called GNL Quintero, have an RFP out for a project loan that could raise as much as $800m, say bankers away from the transaction. The deal will command an estimated investment of $940m and will be completed by 2009. According to a timeline announced for the project earlier this year, financing is supposed to take place in the first quarter of 2008. A number of lenders are expected to pitch for the loan mandates, and HSBC has been hired to advise the consortium on financing.