Ferrere counsels on Ferrocarril Central loan extension
Ferrere has counselled the CAF-AM Fund, the Andean Development Corporation (CAF), the Inter-American Investment Corporation (IDB Invest) and Allianz Capital Partners, an investment group focused on infrastructure and energy, on the granting of an additional USD 110 million loan for the Ferrocarril Central Road infrastructure project.
The project is managed by the Grupo Vial Central consortium, which includes Uruguayan construction companies SACEEM and Berkes, Spain’s Sacyr and France’s NGE. The initiative includes the rehabilitation and maintenance of the 273 kilometres of railway tracks connecting the port of Montevideo with the city of Paso de los Toros in the centre, where the new pulp processing plant of the Finnish paper mill UPM is located. The total project outlay is estimated at USD 1.1 billion, the largest public infrastructure investment in Uruguay’s history.
The consultancy involved the negotiation and drafting of amendments to the project, financial and guarantee documents, as well as assistance on country-specific legal issues to enable the loan. The work included coordination with Ignacio Imas, Laura Berkman and Gonzalo Soriano, leaders of the legal teams of IDB Invest, CAF-AM and CAF, respectively.
Ferrere’s team was led by partner Sebastián Ramos (pictured), with support from partner Gonzalo Secco and professionals Lucía Olloniego and Andrés Buero.
