BCIE signs loan for Colombia road concession
The Central American Bank for Economic Integration (CABEI) has signed a contract with Concesión Alto Magdalena, S.A.S, the project company formed by Mario Alberto Huertas C. (75%) and Constructora Meco S.A. (25 %) to formalize its participation for up to US$136.0 million in a syndicated credit loan for the partial financing of the Honda - Puerto Salgar - Girardot corridor PPP in Colombia.
A number of local Colombian financial institutions are also participating in the syndicated loan, which will provide up to US$378.0 million for the road project. The total project investment is estimated at US$556.7 million.
As we reported, in mid August 2015, Goldman Sachs was involved in the US$1.2 billion financing of the Girardot-Puerto Salgar project together with other two PPPs, namely Cartagena - Barranquilla and Pacific Connection highway concession 3. Structure Banca was the financial advisor in the deal.
The project will have a total length of 194 km along the areas of Tolima, Caldas and Cundinamarca in Colombia. It includes 22 km of new road construction in dual carriageway (including the new bridge between Girardot and Flanders), rehabilitation of 33 km of roads, upgrading of 135 km road and 4 km belong to the new bridge between La Dorada and Puerto Salgar.
The road corridor is part of the first projects of the Fourth Generation (4G) Concessions Program.
CABEI Executive Vice President Attorney Alejandro Rodríguez Zamora, stated:
“This loan agreement represents an excellent opportunity for CABEI to support Colombia’s 4G scheme of public-private partnerships, and we are certain that the project will contribute to strengthening the country’s competitiveness by improving its road infrastructure and establishing appropriate regional connectivity”
Country news
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July 18, 2016
Five bidders for Bogota Irardot road project
Colombia's National Infrastructure Agency (ANI) has received five proposals during the public hearing held for the development of the Bogotá-Girardot PPP-PI project, which is a public-private partnership initiated under a private initiative scheme. Read more -
July 15, 2016
Colombia's ANI announces FC for two projects
The concessionaire of the Cartagena-Barranquilla and Prosperidad bypass project issued bonds with a value of US$263 million. Goldman Sachs acted as bond arranger in the transaction. The total project financing raised now stands at US$499 million.
Read more -
July 15, 2016
Brookfield closes $14 Billion Global Infrastructure Fund
Brookfield Asset Management Inc. has announced that it held the final close on Brookfield Infrastructure Fund III (BIF III) with an aggregate of US$14 billion of equity commitments, creating a global infrastructure fund that invests in high-quality, core infrastructure assets on a value basis. BIF III marks the largest private fund raised by Brookfield and the largest private infrastructure fund ever raised in the industry. In the last 18 months, Brookfield has raised approximately US$27 billion across its flagship private fund strategies, including the close of its flagship real estate fund, Brookfield Strategic Real Estate Partners II at US$9 billion, and its flagship private equity fund, Brookfield Capital Partners IV at US$4 billion. All three funds surpassed their fundraising targets. Total capital commitments of BIF III exceed the original US$10 billion fundraising target, reflecting a robust investment pipeline and strong investor demand for the asset class. BIF III’s predecessor fund closed in 2013 with US$7 billion of total capital commitments. Investors in the Fund are a diverse group of over 120 institutional investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments and foundations and family offices. Brookfield committed US$4 billion to the Fund, ensuring alignment of interests with other Fund investors. Brookfield’s commitment will be funded through Brookfield Infrastructure Partners L.P. and Brookfield Renewable Partners L.P. To date, the Fund has committed to invest over US$3 billion in assets consistent with the Fund’s investment strategy, including a portfolio of U.S. hydroelectric facilities, a portfolio of Brazilian electricity transmission projects, a leading Colombian power generation company, a portfolio of Peruvian toll roads and a U.S. water infrastructure project developer. Read more -
June 22, 2016
Bid received for Bogota highway private inititative
Colombia's national infrastructure agency (ANI) has received a new proposal for the Accesos Norte de Bogotá road PPP project. The company who submitted the competitive proposal to the unsolicited bidder has been Copasa a Spanish construction company specialized in civil engineering projects. Read more -
June 14, 2016
ANI signs Bucaramanga - Pamplona road concession
The Colombian National Infrastructure Agency (ANI) has finally signed the contract for the concession contract of the Bucaramanga- Pamplona road PPP project. Read more
