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.
This announcement comes after the consortium formed by construction companies Mario Alberto Huertas Cotes, Constructora Meco and Construcciones El Cóndor hired Goldman Sachs as bond arranger to finance the toll road.
Goldman Sachs was also the Mandated Lead Arranger giving a US$439 million loan to finance the project.
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 an investment of US$647 million and it has 231 kilometers, including 26 bridges and 3 tunnels.
Country news
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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 -
February 01, 2016
Financing package for Colombia's conexion Norte PPP announced
Project financing will be provided by the following banks: Sumitomo Mitsui Banking Corporation, Bancolombia, Davivienda and Financiera de Desarrollo Nacional (FDN).
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January 29, 2016
IFC supports infrastructure debt fund in Colombia
IFC, a member of the World Bank Group, is boosting its support of Colombia’s infrastructure sector by financing the launch of a fund that will play a crucial role in deploying financial resources for the country’s large-scale infrastructure projects. IFC will invest about US$48 million in an infrastructure debt fund that is designed to mobilize financing from pension funds, a mostly untapped source of capital for infrastructure projects in emerging economies. IFC’s support has been crucial for the fund, which will be managed by Lima-based Credicorp Capital and Colombia’s Sura Asset Management, to raise about US$400 million. Read more -
January 28, 2016
Colombia tenders PPP for Armenia and Neiva airports
The Colombian National Infrastructure Agency (ANI) has re-launched the tender process for the concession of the Airports of Edén in Armenia and Benito Salas in Neiva. Read more
