New York – Paul Hastings LLP, a leading global law firm, announced today that the firm represented Concesión Ruta al Mar S.A.S. (“Ruta al Mar”), a subsidiary of the Colombian construction company Construcciones El Condor S.A., in financing the construction, operation and maintenance of the 4G Antioquia-Bolívar highway in Colombia.
The project is the first 4G toll-road project in Colombia developed as an iniciativa privada, a concession proposal unsolicited by the Colombian government. The $488 million financing package was priced in Colombian pesos and consists of a series of 26-year UVR-denominated notes and three credit facilities.
The Ruta al Mar highway project will interconnect the northwestern region of the country, beginning in Antioquia.
Latin America and Finance partners Robert Kartheiser and Cathleen McLaughlin led the Paul Hastings team, which also included associates Thomas Sines, Alex Herman and Inho Ko, and foreign associate Nicolas Benvenuto.
Once completed, the Antioquia-Bolívar highway will interconnect the northwestern region of the country, stretching over 300 miles between the Caucasia municipality in the Antioquia department of Colombia and the Cruz del Viso municipality in the Bolívar department of the county.
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