Caixa signs financing for Brazilian toll road concessionaire
Caixa Economica Federal (CAIXA) has signed a R$550 million (US$153 million) loan for the BR-050 highway concession linking the state of Goias to Minas Gerais, Brazil.
The 30-year concession involves the maintenance, operation and expansion of the highway BR-050 from Goias to São Paulo - Minas Gerais border.
In November 2015, The Brazilian Development Bank, BNDES, approved a R$552,7 million (US$154 million) loan for the project. Previously in September 2013, Consorcio do Planalto won the right to operate the 436 km road concession.
Consorcio do Planalto is composed of Brazilian construction companies Senpar SA, Construtora Estrutural SA, Construtora Kamilos SA, Ellenco Construções SA, Engenharia e Comercio Bandeirantes and Greca Distribuidora de Asfaltos.
The financing conditions had already been established in the tender process. The loan has a grace period of 5 years, during the investment phase, and an amortization period of 20 years. The total financing of CAIXA and BNDES has reached 69% of the project investment, which is estimated at R$1,6 billion (US$ 512 million)
The concessionaire also plans to issue bonds to finance the project.
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