More details on Eco135 toll road financing
Eco135 Concessionaria de Rodovias – a special purpose company that won the auction of the Lote Montes Claros toll road system (which comprises 300 km of BR-135, 40 km of LMG-754 and 22 km of MG-231) in Brazil, and which is ultimately owned by EcoRodovias Concessoes e Servicos – has raised BRL996.35 million ($243.9 million) of 23.5-year debt from BNDES to finance its 30-year concession.
The deal, signed on 20 December 2019, was arranged with Santander as financial advisor to the borrower and Machado Meyer as legal counsel. The support comes under the BNDES Finem Line and corresponds to 72% of the BRL1.38 billion investment in upgrade and expansion required under the agreement between the concessionaire and the Minas Gerais State Government for the first five years of the concession. The total amount to be invested by Eco135 – excluding a fixed grant – will be BRL2.85 billion during the life of the concession.
