Jones Day advises on Colombia toll road financing
Jones Day has represented Concesionaria Vial Union del Sur, as concessionaire, Patrimonio Autonomo Union del Sur, as borrower, and Sacyr Concesiones and Herdoiza Crespo Construcciones, as sponsors, in connection with a $575 million long-term financing for a toll road in Colombia.
The funds will be used to repay a bridge loan facility and fund design, construction, operation and maintenance costs for the 83km road connecting the cities of Pasto and Ipiales, near the Rumichaca border crossing with Ecuador.
The Jones Day team was led by Fradyn Suárez in Miami (pictured), and included Jessica Mendoza (Miami), Juan Huertas (New York), and Fernando Lillo and Sergio Cires (both Madrid).
At present Rumichaca-Pasto is in the construction stage, with a total progress of 24 per cent. Sacyr holds 60 per cent of the road project, while the remaining 40 per cent is in the hands of the Ecuadorian firm Herdoiza Crespo Construcciones.
