New York -- Colombia's Cuarta Generacíon (4G) road infrastructure program, the largest road project in Latin America, has reached another milestone with the financial close of the Colombian road Autopista al Mar 1. The new road will connect the city of Medellín to the main highways in the country, including other 4G road projects Autopista al Mar 2 and Conexión Pacífico 2.
Paul Hastings represented the sponsors, Sacyr Concesiones Colombia S.A.S., Sacyr Concesiones Participadas I S.L., Strabag S.A.S., Strabag AG (Switzerland), STRABAG AG (Austria), and Concay S.A., on the approximately $717.1 million dual-currency COP-USD financing. The lenders consisted of a syndicate of banks including the Colombian development institution Financiera de Desarollo Nacional, IDB, Blackrock, CAF, ICO, SMBC, KfW and Societe Generale. The financing will be used for the construction, operation and maintenance of the Autopista al Mar 1 road project.
The Colombian 4G road infrastructure project is the largest highway project in Latin America.
The Paul Hastings team was led by Energy and Infrastructure partner Bob Kartheiser, and also included associates Thomas Sines and Louise Farias. Paul Hastings previously advised on the Conexión Pacífico 2 and Ruta al Mar project financings of nearly $1 billion combined.
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