Pamplona-Cucuta 4G road financing closed
Sacyr has closed on the financing for the Pamplona-Cucuta 4G highway concession in Colombia. Structured via special purpose vehicle Union Vial Rio Pamplonita, the $520 million financing is being provided by JP Morgan, Deutsche Bank, ICBC, Bank of China, MetLife, MUFG and Societe Generale, along with DFI lenders ICO and Financiera de Desarrollo Nacional (FDN).
JP Morgan and Deutsche lead arranged the deal and also recently provided a $90 million bridge loan to get construction started. Overall project costs are estimated at $765 million and the scheme involves construction of a new 50km road in Norte de Santander, 25 viaducts, two tunnels totalling 2.45 km in length, the rehabilitation of 72.2 km of existing road (Pamplona-Betania sector, Los Patios); and construction of 25 vehicular bridges, four pedestrian bridges and rehabilitation of 23 existing bridges.
