Banks emerge for Pacifico III in Colombia
Bancolombia, Corpbanca, and Credicorp have provided a P$900 billion (US$269 million) project financing for the Pacifico 3 toll road in Colombia.
This announcement comes after Goldman Sachs sold bonds amounting US$260 million to finance the project, closing the first sale of bonds abroad associated to the 4G road PPP program. Goldman Sachs was also the Mandated Lead Arranger.
The road project is part of the 'Autopistas de la Prosperidad' package. The package is formed by several highway PPP projects including the Pacific Connection highway concession 1, Pacific Connection highway concession 2 and Pacific Connection highway concession 3.
These road concessions will allow Colombia's Atlantic Coast and Antioquia to connect efficiently with the "Eje Cafetero" and the Cauca valley, decreasing in 7 hours the travel distance between Medellin and Buenaventura port.
Pacific Connection highway concession 3 project includes: La Pintada-La Felisa; La Felisa-Irra; La Felisa-Asia; Asia-La Virginia; Tesalia by-pass; and Irra-Tres Puertas. This concession has 231 kilometers,including 26 bridges and 3 tunnels.
The project was awarded in 2014 to a consortium made up Mario Alberto Huertas Cotes, Constructora Meco and Construcciones El Cóndor.
Country news
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February 24, 2016
Colombia to tender aqueduct PPP
The Government of Colombia has announced the launch of various projects to ensure the water service in Santa Marta, a city on the Caribbean Sea in the northern Colombian department of Magdalena. Read more -
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Consultants sought for Bogota government building PPP
The government of Colombia, through the National Housing Agency, has launched a tender process to hire consultants to structure a PPP project for the upgrade of the Edificio de Transición (ET – CAN) government building. Read more -
February 17, 2016
Goldman Sachs sells bonds in NY to finance 4G road concession
Goldman Sachs has sold bonds amounting US$260 million to finance the Pacifico 3 toll road in Colombia, closing the first sale of bonds abroad associated to the 4G road PPP program. Read more -
February 12, 2016
Concessionaire for Pacifico 3 may issue bonds
The consortium formed by construction companies Mario Alberto Huertas Cotes, Constructora Meco and Construcciones El Cóndor has hired Goldman Sachs as bond arranger to finance the Pacifico 3 toll road in Colombia. Read more -
February 04, 2016
FDN approves loan for Rio Magdalena 2 highway
Last week, Financiera de Desarrollo Nacional (FDN), the agency created by the Government of Colombia to support the financing of infrastructure projects in the country, announced the approval of a 200,000 million pesos (US$60.3 million) senior loan for the project. FDN includes Sumitomo Mitsui Banking Corporation, IFC and CAF as minority shareholders. Read more
