Conconcreto refinances loans

Conconcreto refinances loans

Loans Corporate & Sovereign Strategy Debt Project & Infrastructure Finance Colombia

Colombia's Conconcreto said it has signed a five-year, COP640m ($194m) syndicated loan from nine banks to refinance debt and maintain its investment plans.

The lenders are Bancolombia, Davivienda, Banco de Bogotá, Itaú CorpBanca, Banco Popular, Banco de Occidente, Santander, BBVA and AV Villas, Conconcreto said in a securities filing.

Conconcreto also said the financing also allows it to keep making investments in the Vía 40 Express and the first phase of the Ruta del Sol toll road concession. 

The company put up COP80bn in property and COP58.3bn in shares in the Pactia private equity fund as collateral for the loan.