Norton Rose Fulbright advises Banque Centrale Populaire on financing of Container Terminal 3 project for Tanger Alliance

Global law firm Norton Rose Fulbright has advised Banque Central Populaire (BCP) group on the €133 million financing of part of the construction costs of Container Terminal 3 (TC3) at the Tanger Med 2 port in Morocco, operated by Tanger Alliance.

The long-term credit was granted in the form of project finance by BCP acting as principal arranger at the head of a banking consortium consisting of the Attijariwafa bank group, co-arranger; Bank Of Africa; and CIH Bank. It will be used to finance part of the costs of carrying out the TC3 project for the Tanger Med port.

The new terminal, which includes eight quayside gantries assigned to the loading and unloading of containers, and twenty-two park gantries intended for their storage, was put into service on January 1, 2021. The overall amount of the investment in the project TC3 amounts to €175 million.

Partners Alain Malek and Anne Lapierre, co-heads of Norton Rose Fulbright’s Casablanca office, led the team advising BCP on this operation. They were assisted by counsel Godefroy Le Mintier on concession-related matters. Counsel Véronique Bruel was in charge of the financing structuring with counsel Anne-Laure Bernard-Boussières and associate Faiza Saiki. Counsel Mathieu Dahan was in charge of the real estate aspects of the operation. Counsel Amandine Delsaux and associate Ambre Ouint-Vanlaer were in charge of the project aspects.