CADWALADER, Wickersham & Taft, representing AIG Emerging Infrastructure Fund, has recently finalized the $23-million “÷mezzanine financing’ of the Galata gas project in Bulgaria which is now under construction. The project, assisting Melrose Resources plc to develop the offshore gasfield in the Black Sea off the coast of Bulgaria, involves the installation of a fixed production platform and pipeline, and is the first production infrastructure in this area. The total project cost is $75 million, of which $34 million in “÷senior’ loans was provided by the International Finance Corporation and the Black Sea Trade and Development Bank.
