Advent Targets Loan for Colombian Pipeline Buy

US private equity firm Advent International is preparing a $600m loan to help fund the acquisition of a 22% stake of Colombian pipeline operator Ocensa, LatinFinance understands. A bank meeting was held in Colombia last week for the 7-year amortizing facility, done through a special purpose vehicle, with pricing at Libor+450bp. MLA, lead arranger and arranger tickets – of $80m, $50m and $25m, respectively – are on offer. Citi, Itau and Natixis are leading the transaction, expected to close before the end of the year. The total purchase price of the stake is expected to be more than $1bn. Canada’s Talisman Energy is selling its 12% position, along with portions owned by France’s Total and Spain’s Cepsa. Talisman would retain transport rights for the 830km pipeline, which links the Llanos Basin to the Covenas port in Colombia.