SP Road Authority Plans ABS

SP Road Authority Plans ABS

Structured Finance

Sao Paulo’s Departamento de Estradas e Rodagem is planning to raise BRL708m through an FIDC local market securitization, according to regulatory documents. The deal is backed by future payments coming from privatizations of 5 road concessions in the state of Sao Paulo. In recent concessions, the government typically has received full payment at the time of an award. However, a banker on the deal explains, these 5 concessions – done during 1997-1998 – are paid for in installments over the life of

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