PHR assists Montes de María and Sacyr in the issuance of a social bond in Colombia
Posse Herrera Ruiz has acted as legal counsel to Sociedad Vial Montes de María and Sacyr Concesiones Colombia in the issuance of a social bond aimed for an infrastructure project
Posse Herrera Ruiz has assisted Sociedad Concesionaria Vial Montes de María S.A.S. and its shareholder Sacyr Concesiones Colombia S.A.S. in the issuance by Patrimonio Autónomo Montes de María of its guaranteed bonds indexed in UVR maturing in 2045.
The transaction was closed on 29 April and had a value of $760,000,000,000,000 Colombian pesos (cop). BTG Pactual and Santander acted as joint bookrunners, and Santander acted as structurer agent of the social bond.
This is the first social bond for an infrastructure project in Latin America. The bonds are guaranteed by U.S. International Development Finance Corporation (DFC) and will be used for the refinancing of the “Puerta Del Hierro – Palmar De Varela Y Carreto – Cruz Del Viso” Project, which was granted under Concession Agreement No. 007 of 2015, with the National Infrastructure Agency, part of the second group of fourth Generation Toll Road Concession Projects (4G).
The Posse Herrera Ruiz team was led by partner Mariana Posse (pictured), assisted by lawyers Jesús Albarrán, Mauricio Nieto and María Elvira Borrero.
