March 21, 2019 |
Colombia's Devimar has reached financial close on the Autopista al Mar 1 toll road concession with COP2.23tn ($722m) in loans, the national development bank FDN said in a press release.
According to a source involved in the deal, Devimar split the financing into two 16.5-year loans, with a dollar-denominated facility for $225m and peso-denominated facility for COP1.52tn.
FDN put in COP553bn as a direct lender, while the IDB, IDB Invest, ICO and BlackRock also provided pesos through a credit line
Colombian toll road concessionaire gets $720m in dollars and pesos to fund construction of the Autopista al Mar 1