More details on Pamplona-Cucuta 4G financing
Union Vial Rio Pamplonita, a subsidiary of Sacyr, has reached financial close on a $520 million deal for its Pamplona-Cucuta 4G highway concession in Colombia. The debt carries an eight-year tenor and comprises a COP292.4 million ($70 million) local currency tranche and a $450 million dollar -denominated tranche.
Financing for the $765 million project is being provided by commercial lenders JP Morgan, Deutsche Bank, ICBC, Bank of China, MetLife, MUFG and Societe Generale, as well as DFIs ICO and Financiera de Desarrollo Nacional (FDN). MLAs JP Morgan and Deutsche Bank also financed a $90 million bridge loan at the start of construction.
Improvements to the 62.2km route include a new 50km road in Norte de Santander, 25 viaducts, two tunnels totalling 2.45 km in length, upgrades to 23 existing bridges, and the rehabilitation of 72.2 km of existing road in the Pamplona-Betania sector, Los Patios. The project also includes the construction of 25 vehicular bridges and 4 pedestrian bridges, and is expected to enhance border mobility between Colombia and its neighbour Venezuela. Sacyr currently has four 4G projects in Colombia, which are worth a combined total of around $2 billion.
