Cuatrecasas assists in road corridors financing in Colombia

Cuatrecasas, through its Bogotá office, has assisted KMA Construcciones, Ortiz Construcciones y Proyectos, and the concessionaires Autopista Magdalena Medio and Autopista del Rio Grande in closing the financing documents granted by eight banks for the construction of the Puerto Salgar – Barrancabermeja and Sabana de Torres-Curumaní Road corridors in Colombia.

Thanks to this operation, the concessionaires were able to secure the closing of financing of up to 2.3 trillion and 2 trillion pesos, respectively, for the construction of these two infrastructure works that are essential to connect the interior of the country with the Caribbean Coast. Total investments in the development of the projects amount to 4.91 trillion and 4.75 trillion pesos, respectively.

In addition to the contribution to the country’s connectivity and development, these projects will also benefit nearly 800,000 inhabitants in the departments of Santander, Norte de Santander, Cesar, Cundinamarca and Boyacá. The works also promote employment generation, since it is estimated that more than 100,000 direct, indirect and induced jobs will be created.

The financing was provided by a syndicate of local, international and multilateral banks, comprising IDB Invest, CAF, IFC, Bancolombia, FDN, MUFG, SMBC and JPMorgan.

Cuatrecasas’ team included partners Manuel Quinche (pictured left) and Natalia Arango (pictured right), and associates María Esther Eljach, María Mónica Latorre, Diana Rueda, Alejandro Ruiz, Diego Alejandro Torres, Oswaldo Pacheco, Marcos Díaz, Manuela Gaitán, Juan Carlos Camacho and Mariana González.