September 15, 2022 |
Medellín's city-owned public transit system, Empresa Metro de Medellín (EMM), is looking to issue up to COP350 billion ($79.7 million) in sustainable bonds in the local market next year, according to a report from Fitch Ratings.
EMM plans to sell two series of notes with maturities of seven and 15 years to pay off roughly 72% of debt from the Metro de la 80 light rail project, Fitch said in the report on Tuesday. EMM also plans to use part of the proceeds to purchase of new trains, Fitch added.
City-owned transit system in Medellín aims to raise $79 mln to pay off debt