The Concessionary Company Ruta del Algarrobo, the subsidiary of Sacyr, for the Route 5 Los Vilos - La Serena road concession is preparing a debt issue of US$ 350 million. The bond will be for US$ 350 million, with a 25-year maturity and an A + risk rating.
The Route 5 Los Vilos concession involves the development of a total extension road of 245 km in Route 5 Los Vilos - La Serena section that starts in the north of Los Vilos and ends in its interurban section at the south of Coquimbo, Chile. For the interurban section, different types of works are proposed, these being update, complementation and new; among others, treatment of slopes, widening of platform, rectification of geometric layout, new structures, service streets, pedestrian walkways, etc.
The funds raised with the operation, which is in hands of BTG Pactual and Santander investment banks, will be used to pay liabilities to Itaú Banc and BancoEstado and to finance the construction of the works on the route between Vallenar and La Serena.
The company's roadshow, according to the acquainted with the process, will only be carried out with Chilean firms, and will mainly target institutional investors, such as insurance companies.
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More than 20 companies have expressed their interested in a second concession of the Talca-Chillan section of Route 5 highway in Maule region of Chile.
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Ministry of Public Works in Chile has launched a tender notice seeking private developers for the second concession of Highway 5 in its Talca – Chillán Section. The project budget is USD 796 million. The project is the most anticipated road concession in the country due to the high traffic it has.
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Official Gazette in Chile published a decree awarding the Route 5 Los Vilos-La Serena + Conurgación section road project in Coquimbo region to Sacyr Concesiones Chile SpA. The road has a total length of 245 km and contemplates the incorporation of tele-toll gates in the inter-city section.
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Chile government, represented by President Sebastián Piñera, Public Works Minister Alfredo Moreno and Finance Minister Juan Andrés Fontaine on June 19th have presented the project to modernize Chile airport network, which will improve the service quality for passengers in 17 terminals in the country.
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