Cuatrecasas advises Geopark Colombia S.A.A. on signing an oil prepayment agreement with Vitol for USD 300 million
May 28, 2024
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SubscribeCuatrecasas advised Geopark Colombia S.A.A. on signing an oil prepayment agreement with Vitol Colombia C.I. S.A.S. that will allow it to have immediate access to committed funds for up to USD 300 million, with the possibility of increasing them to USD 500 million.
This is the first oil prepayment transaction between GeoPark and Vitol, one of the world’s leading energy and commodities companies. The transaction will allow Geopark to avail itself of the committed funds immediately, creating possibilities of growth and access to alternative financing mechanisms to those offered by traditional banks.
“An innovative transaction in several aspects that gives Geopark commercial dynamism at the same time as quick, flexible access to a source of financing designed to guarantee the growth of the company,” remarked Manuel Quinche, managing partner of the Cuatrecasas Bogotá office.
The advising team was made up of lawyers Manuel Quinche, Manuel Gómez, María Mónica Latorre, Marcos Díaz and Santiago Jaramillo Ochoa.
May 28, 2024
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