LATAM countries your role covers: Brazil, Chile, Colombia, Mexico, Paraguay, Puerto Rico and Uruguay.

What are the most significant cases and transactions in the LATAM region that you or your legal team have recently been involved in?

In June 2023, after 13 months of work, the Sacyr Madrid and Colombian legal teams closed the refinancing of the Colombian 4G Toll Road Concession Project, “Pamplona-Cúcuta”, that comprises the final stage of the construction plus rehabilitation, improvement, operation and maintenance works of this 110 kms toll road. This refinancing transaction, for an amount of about $642m, included multicurrency facilities and private placements, a pool of seven commercial banks and multilateral entities plus a total of 11 first rank law firm – both Colombian and international for US-New York law.

Also in June 2023, we closed the last tranche of the financing structure in the Brazilian road project, “RSC 287”, that includes four different road sections, with a total extension of 204.5 kms, for an amount of around $150m in bank securities, with BNDES and commercial banks.

How do you adapt your legal counselling to align with the diverse business practices and customs of various LATAM countries?

We are fortunate enough to have fantastic legal team colleagues in each of the main countries in which Sacyr operates, that allows each one of us to combine synergies, knowledge and experience in international projects, financings, contract negotiation and management, in line with all local regulations and requirements. In countries in which Sacyr does not have an in-house legal team, we work with local law firms, obtaining same combined results. This continuously adds to our knowledge and therefore, to what we can offer as in-house legal counsel.

What are your organisations plans in the LATAM region over the next 12 months and how will your legal expertise help to achieve these plans?

Sacyr has been awarded two major projects in Colombia: a 5G toll road “Buga-Buenaventura-Guerrero” and the major river infrastructure project “Canal del Dique”, both of which require financing to be closed throughout end of this year and 2024. At the same time, we intend to refinance existing projects in Uruguay, Paraguay and Colombia throughout the end of this year and 2024.

We will be deeply involved in the preparation, assessment, external counsel selection, negotiation and closing of the above expected financings in Latin America, in Spain and other Sacyr countries, and will always apply lessons learned in each closing and move forward.