Autopistas Urabá finances 4G road

Autopistas Urabá finances 4G road

Loans Project & Infrastructure Finance Debt Colombia China Japan Asia

Autopistas Urabá has secured a dual-currency loan for $652m to finance the Autopista al Mar 2 toll road concession in Colombia, the national infrastructure agency ANI said in a statement.

The national development bank FDN supplied a 16.5-year loan for COP500bn ($150m) as local-currency financing that was approved last year, while the China Development Bank (CDB) provided $418m in dollar-denominated financing and Japan's SMBC added $84m, said a source involved in the deal.

The CDB and SMBC put their money in a 16-year tranche, but the CDB also granted a 12-year tranche, the source said.

Paul Hastings said it was the legal adviser to the lenders.

China Harbour Engineering Company (CHEC), a subsidiary of China Communications Construction Company (CCCC), owns 60% of Autopistas Urabá, while the local engineering firm SP Ingenieros holds 20%, Unidad de Infraestructura y Construcciones Asociadas (UNICA) has 15% and Termotécnica Coindustrial has 5%.

The 254km Autopista al Mar 2 was the last project awarded in the second round of 4G toll road concession auctions in September 2015. Autopistas Urabá hired SMBC to arrange financing in December 2016.

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