BNDES authorizes toll road loan

BNDES authorizes toll road loan

Debt Corporate & Sovereign Strategy Loans Project & Infrastructure Finance Structured Finance Brazil

Brazil's national development bank BNDES said it has approved BRL3.64bn ($957m) in financing for a toll road concession in the state of São Paulo. The loan will cover 57% of the estimated BRL6.39bn in project costs for the 720km Rodovia dos Calçados between Itaporanga and Franca, BNDES said in a press release.  Arteris, owned by Spain's Abertis and Canada's Brookfield, won the 30-year contract for the Rodovia dos Calçados with a bid of BRL1.21bn in April last year and created a special purpose v

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