Refinancing of USD4.5bn subway project in Peru
ACS Group, through its subsidiary Iridium, has successfully priced a new EUR 501 million (US$ 559.72 million) 144A/Reg S Bond for the partial refinancing of Line 2 Lima Metro Project in Peru. At pricing, the offering, was more than 7 times oversubscribed, illustrating the strong market appetite for this project. The final book will include over 80 buyers, including some of the largest and most sophisticated institutional investors in the market. The issuance constitutes the largest Infrastructure Bond deal in Peru this year. Likewise, the bond issuance closing is expected on August 01, 2019.
Line 2 Lima Metro Project is a high-profile initiative of the Government of Peru consisting on the design, finance, construction, operation and maintenance of Línea 2 and Ramal Av. Faucett – Av. Gambetta de la Red Básica del Metro de Lima y Callao pursuant to a concession agreement executed on April 28th, 2014 between the Concessionaire Metro de Lima Línea 2 S.A. (Concessionaire) and the Ministry of Transport and Communications. The Project includes 35 stations along 35 km of metro with a total investment of more than US$ 4.5 billion.
The concession of the project will last for a period of 35 years.
The members of the consortium are responsible for the civil works, electromechanical systems and rolling stock supply. The Concessionaire is owned by Iridium (25.00%), FCC (18.25%), Salini Impregilo (18.25%), Hitachi (11.60%), Hitachi STS (16.90%), and Cosapi (10.00%).
JP Morgan and Goldman Sachs acted as Global Coordinators and Joint Bookrunners and Santander acted as Co-Manager of this new bond issuance.
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February 05, 2019
Proposals sought for US$3.86 billion transport concessions in Peru under new PPP model
The Ministry of Transport and Communications (MTC) and the Private Investment Promotion Agency (ProInversión) of Peru have invited private parties to submit proposals for rail and airport concessions under a new public-private partnership scheme: Co-financed Private Initiatives (Iniciativas Privadas Cofinanciadas (IPCs)).
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January 03, 2019
US$360 million broadband PPP projects awarded in Peru
The Private Investment Promotion Agency (ProInversión) of Peru has announced that it has awarded six public-private partnership (PPP) projects that will see broadband networks installed in the regions of Áncash, Arequipa, La Libertad, Huánuco, Pasco and San Martín, for a total investment of US$358 million.
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July 19, 2018
US$250 million wastewater concession tender launched in Peru
Peru's Private Investment Promotion Agency (ProInversión) has launched the tender for the design, financing, construction, operation and maintenance of a wastewater treatment system for the Lake Titicaca basin, located in Puno, in the south-east of the country. The project has an estimated total investment of PEN840 million (US$255.5 million).
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June 05, 2018
US$230 port concession awarded in Peru
Transportadora Salaverry Consortium, led by Grupo Romero, has won the tender for the modernization of the Salaverry port terminal, located in La Libertad, a region in north-west Peru. The company was selected over one other proponent - Notable Category S.A., owned by the Yildirim Group, a Turkish company.
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March 21, 2018
DP World acquires stake in Peru's second largest container terminal
DP World has announced that it has acquired Cosmos Agencia Maritima S.A.C. (CAM) for US$315.7 million. Based in Peru, CAM owns a 50% stake in Terminales Portuários Euroandinos S. A., in the Port of Paita (north-east Peru), which is the second largest container terminal in the country.
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