Refinancing completed for Aburrá Oriente tunnel concession

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Odinsa, the company responsible for the Aburrá Oriente tunnel concession, has announced the successful closing of the COP700 billion (US$176.13 million) bond issue of the Concession. The refinancing demand for the project is COP1.10 trillion (US$276.79 million). The bond issued received an AA+ credit rating from BRC Standard & Poor's, and Bancolombia Capital acted as coordinator and leading placement agent for the transaction.

Aburrá Oriente tunnel facilitated traffic of more than 15 million vehicles in the last 2 years since it began operations. The tunnel also managed to strategically interconnect the valleys of Aburrá (Medellín) and San Nicolás (Rionegro) and reduce travel times by 55% between these subregions in Antioquia through tunnels, viaducts, and road interchanges.

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