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.