Holland & Knight advises on Colombia toll road financing
Holland & Knight has advised Colombia’s infrastructure development bank Financiera de Desarrollo Nacional (FDN), Sumitomo Mitsui Banking Corporation and the China Development Bank as lead arrangers of the $650 million financing of the 254km Mar 2 toll road project, part of Colombia’s fourth generation road infrastructure plan.
The financing includes two tranches, with FDN providing $500 billion Colombian pesos ($147.6 million), and Sumitomo Mitsui Banking Corporation and the China Development Bank providing $501.7 million.
Autopistas Urabá, the borrower, won a 25-year concession contract for the project in 2015. The concessionaire consortium is led by China Harbour Engineering Company Limited and includes China Harbour Concessions Company (Bermuda) Ltd., China Harbour Concessions Company, Sociedad Limitada, SP Ingenieros, Unidad de Infraestructura y Construcciones Asociadas, and Termotécnica Coindustrial.
The Mar 2 project is located in Antioquia department and includes the construction of 11 tunnels and 59 bridges. It is the 17th project to receive funding within the 4G program. Holland & Knight has represented FDN in seven of these projects.
The lenders were represented by Holland & Knight partners Enrique Gómez-Pinzón (pictured) and Norberto E. Quintana, and associate Maria Juliana Saa They received assistance from associates Lucas Saffon-Lopez, Maria Isabel Romero, Rafael Marulanda, Felipe Carrizosa and Edgar Andrés Martinez, as well as senior counsel Carolina Arciniegas.
