Sacyr Concesiones has issued social bonds to refinance the Puerta de Hierro-Cruz del Viso highway project in Colombia. The bond is valued at US$ 209 million.

The issuance is backed by the U.S. International Development Finance Corporation (DFC) and expires in 24 years, that is May 2045. Santander and BTG Pactual act on it as bookrunners for the placement.

Sacyr Concessions, through the Montes de María Road Concessionaire, develops the 4th Generation (4G) Puerta de Hierro-Palmar de Varela y Carreto-Cruz del Viso Project in the Sucre, Bolívar and Atlántico Caribbean departments. The 198-kilometer road corridor connects the main seaports and cities of the Colombian Caribbean.

The project's execution has had a great positive impact on the area of influence of these three departments and has created more than 2,500 direct and indirect jobs at the height of its execution stage. Close to 70% of the workers were locals. Therefore, the improvement operations on the corridor contribute to local socio-economic development and ease the transportation of merchandise and people.

DFC’s Acting CEO Dev Jagadesan said: “DFC is pleased to provide a guaranty in support of Sacyr’s social bond issuance for a key infrastructure project that will promote linkages between poorer regions in northern Colombia and economic centers, while encouraging local financial participation and investment. The bond issuance is an exciting step toward advancing development and economic growth through this critical roadway project”.