CONCESIONARIA VIAL UNIÓN DEL SUR S.A.S., SACYR CONCESIONES COLOMBIA S.A.S.; SUDAMERICANA INTEGRAL DE CONSTRUCCIONES SUDINCO COLOMBIA S.A.S.
Colombian legal counsel to Concesionaria Vial Unión del Sur S.A.S., as concessionaire, Sacyr Concesiones Colombia S.A.S. and Sudamericana Integral de Construcciones Sudinco Colombia S.A.S., as sponsors in the long term refinancing of the 4G toll road project Rumichaca-Pasto, reaching US$ 800 million, with a complex structure that involves a multi segment bank loan for US$ 278 million, another loan in Colombian pesos equivalent to US$ 260 million and a social bond for US$ 262 million.
This operation is an alternative financing instrument, which, in addition to the senior financing, involves liquidity instruments that will maintain the cash flows, thus ensuring the project’s operation and maintenance for 20 years.
The Colombian banking entities FDN, Bancolombia, Davivienda and UPI and the international JPMorgan Chase Bank, Sumitomo Mitsui Banking Corporation, Société Générale, MUFG Bank, Ltd., N.A, Crédit Agricole Corporate and Investment Bank and Siemens Financial Services, Inc., have participated in the financing.
Goldman Sachs and JP Morgan were the structurers and bookrunners for the issuance. IDB Invest (IDB Group) was the anchor investor and has subscribed the equivalent to US$ 135 million. Furthermore, it also assisted with the design of the methodological framework to obtain the social bond label.
The issuance has surpassed the amount of a previous bond issuance in April 2021 for the Montes de María P3, situating itself as the largest bond issuance tied to an infrastructure project in Latin America to date.
PUERTO BAHÍA COLOMBIA DE URABA S.A.; PUERTO ANTIOQUIA HOLDINGS S.A.S.; AGRÍCOLA SANTAMARÍA S.A.S.; CMA-CGM S.A.; C.I. TROPICAL S.A.S.; C.I. UNIÓN DE BANANEROS DE URABÁ S.A.; EIFFAGE S.A.; PIO S.A.S.; PUERTOS INVERSIONES Y OBRAS S.A.S.; SOCIEDAD DE COMERCIALIZACIÓN INTERNACIONAL BANAFRUT S.A. AND TERMOTECNICA COINDUSTRIAL S.A.S.
Colombian legal counsel to Agrícola Santamaría S.A.S., CMA-CGM S.A., C.I. Tropical S.A.S., C.I. Unión de Bananeros de Urabá S.A., Eiffage S.A., Pio S.A.S. Puertos Inversiones y Obras S.A.S., Sociedad de Comercialización Internacional Banafrut S.A. and Termotecnica Coindustrial S.A.S., as sponsors, and Puerto Bahía Colombia de Urabá S.A. as concessionaire, in the closing for the senior loan disbursement by Inter-American Investment Corporation, Inter-American Development Bank, China Co-Financing Fund for Latin America and the Caribbean, Banco de Comercio Exterior de Colombia S.A. Banco Davivienda S.A. and Financiera de Desarrollo Nacional S.A. and the mezzanine loan disbursement by Global Infrastructure Partners pursuant to which the sponsors and the concessionaire will develop the Puerto Antioquia Project.
Posse Herrera Ruiz also acted as Colombian legal counsel to Agrícola Santamaría S.A.S., CMA-CGM S.A., C.I. Tropical S.A.S., C.I. Unión de Bananeros de Urabá S.A., Eiffage S.A., Pio S.A.S. Puertos Inversiones y Obras S.A.S., Sociedad de Comercialización Internacional Banafrut S.A. and Termotecnica Coindustrial S.A.S., in the transactions leading to the effective initial investment in the Puerto Antioquia project pursuant to a previously announced investment agreement involving, among other actions, the entry as shareholders in the Puerto Antioquia project and the execution of the relevant shareholders’ agreement.
PUERTO BAHÍA COLOMBIA DE URABA S.A.; PUERTO ANTIOQUIA HOLDINGS S.A.S.; AGRÍCOLA SANTAMARÍA S.A.S.; CMA-CGM S.A.; C.I. TROPICAL S.A.S.; C.I. UNIÓN DE BANANEROS DE URABÁ S.A.; EIFFAGE S.A.; PIO S.A.S.; PUERTOS INVERSIONES Y OBRAS S.A.S.; SOCIEDAD DE COMERCIALIZACIÓN INTERNACIONAL BANAFRUT S.A. AND TERMOTECNICA COINDUSTRIAL S.A.S.
Counsel in the negotiation and execution of an investment agreement, shareholders’ agreement, in relation to the negotiation of long term PPA and interconnection agreements for the Project.
CONCESIÓN LA PINTADA S.A.S.; ODINSA S.A.; WEST VALLEY JL HOLDCO LIMITED
Legal counsel to Concesión La Pintada S.A.S and its sponsor Odinsa S.A. and West Valley JL Holdco Limited in the peso refinancing of its Project Autopista Conexión Pacífico 2, granted under the Concession Agreement No.006 of 2014 part of the second group of the fourth (4th) Generation Toll Road Concession Projects known as 4G.
The refinancing of the existing peso indebtedness of Project Pacífico 2 provides for a peso credit agreement governed by the laws of Colombia, with peso term loan commitments for an amount of COP $840.000.000.000 and a revolving liquidity credit agreement governed by the laws of Colombia for an amount of COP $150.000.000.000.
Banco Davivienda S.A. and Bancolombia S.A. acted as peso Lenders. Compartimento A del fondo de capital privado denominado FCP Deuda Infraestructura II Sura – Credicorp Capital and Compartimento Liquidez I del fondo de capital privado denominado FCP 4G | Credicorp Capital – Sura Asset Management acted as liquidity lenders. Cititrust Colombia S.A. Sociedad Fiduciaria acted as Administrative Agent.
PARQUE SOLAR PLANETA RICA S.A.S.; AKUO ENERGY COLOMBIA S.A.S. MPC ENERGY SOLUTIONS LATIN AMERICA HOLDINGS S.L.
Colombian legal counsel to Parque Solar Planeta Rica S.A.S. and its sponsors Akuo Energy Colombia S.A.S. and MPC Energy Solutions Latin America Holdings S.L. in the financing of the Planeta Rica solar plant through an innovative financial leasing transaction enter into with Bancolombia S.A. in the amount of COP58,000,000,000.
Located in the Caribbean Region of Colombia, in the department of Córdoba, the Planeta Rica plant will have an installed capacity of 26.55 MWp, while delivering enough electricity to power approximately 25,000 households in Colombia. Once commissioned, the plant will avoid the emission of over 9,000 tons of CO2 each year of operation and provide a sustainable and local source of clean electricity. The project will benefit from a 15-year Power Purchase Agreement (PPA) with Celsia, the company of Grupo Argos (rating AAA by FitchRatings).
Meet the team