BNDES drives PiPa financing

BNDES drives PiPa financing

Loans Corporate & Sovereign Strategy Economy & Policy Project & Infrastructure Finance Structured Finance Brazil Latin America

Brazil's national development bank BNDES said late Thursday that it approved a BRL3 billion ($549 million) loan to cover 58% of investments in the Piracicaba-Panorama (PiPa) toll road concession for seven years. Eixo SP, the special purpose vehicle that holds the concession, will use the financing to build bridges and overpasses and to add third and fourth lanes to the highway as well as feeder roads and bicycle lanes, BNDES said in a statement. Brazilian private equity firm Pátria Investimentos

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