B&E advises Puente Industrial on financing of 6.4 km bridge project
Barros & Errázuriz has counselled Sociedad Concesionaria Puente Industrial on financing for 6.4 km bridge project in central Chile
Barros & Errázuriz has advised Sociedad Concesionaria Puente Industrial S.A., alongside Banco del Estado de Chile and Banco Security, in the execution of a financing agreement, structured in tranches under the Project Finance modality, aimed at financing part of the investment associated with the concession contract for the public works concession called “Concesión Vial Puente Industrial” (Industrial Bridge Road Concession). Larrain y Asociados advised Banco del Estado de Chile and Banco Security.
The Project is a road interconnection project of approximately 6.4 km between the municipalities of Hualpén (on the north side) and San Pedro de la Paz (on the south side) through a 2.5 km long bridge, with road accesses and two links to Route 160 (road to Coronel), as well as the Costanera Avenue (connecting the municipalities of Concepción, Hualpén and Talcahuano through the Industrias sector).
This transaction was closed on 24 July, where the means of payment will be Electronic Toll, in Free Flow mode. Likewise, the financing also contemplates the granting of the usual guarantees for this type of operation in favour of the financing entities indicated above, with the total amount of the financing up to the maximum amount of 5,286,004 UF (approximately 206,436,219 US dollars), which will be used to finance the construction of the Project, VAT and guarantee bonds.
DLA Piper Spain, S.L. acted as counsel to the banks. DLA Piper’s team consisted of partner César Herrero and associate Felipe López.
Larraín y Asociados team was formed by partner Patricio Montes, together with associates Diego Garay, Michelle Inzunza, Teresita Vinagre.
B&E’s team was led by partner Francisco de la Barra (pictured left), assisted by senior associate María Olga Rivera (pictured top right) and associates Axel Ewert (pictured bottom right) and Patricia Rivas.
