Bird & Bird advises three Moroccan banks on €196.7m financing for Nador West Med East Container Terminal

Bird & Bird advised Attijariwafa Bank, Banque Centrale Populaire (BCP) and Bank of Africa (BOA) as lenders, while Linklaters advised the project sponsors. The transaction concerns a €196.7 million project finance facility supporting the first phase of the East Container Terminal at the port of Nador West Med in Morocco. The financing contributes to part of the development cost of the terminal’s first section, whose total investment is reported at nearly €253 million. The terminal is concessioned to West Med Container Terminal (WMCT), a vehicle jointly owned by Marsa Maroc and Terminal Investment Limited (TIL), a subsidiary of the MSC group. The structured financing features a 15‑year maturity and supports construction of a large-scale terminal with 1,520 metres of quay, an 18‑metre draft and an ultimate capacity of 3.4 million TEU. The operation forms part of the wider Nador West Med development, which is described as Morocco’s second largest port project after Tanger Med, with more than €5 billion of investments identified and an initial capacity in excess of 5 million TEU. Bird & Bird represented the lenders Attijariwafa Bank, Banque Centrale Populaire (BCP) and Bank of Africa (BOA) with a team composed by: Boris Martor, partner; Sébastien Hoff, counsel; Louise-Marie Nicolas, counsel; and Kenza Fradji, Alexandra Esmel and Edward Noakes, associates. Linklaters represented the project sponsors, including West Med Container Terminal (WMCT), jointly owned by Marsa Maroc and Terminal Investment Limited (TIL).

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Bird & Bird advises three Moroccan banks on €196.7m financing for Nador West Med East Container Terminal

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Bird & Bird advises three Moroccan banks on €196.7m financing for Nador West Med East Container Terminal

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