POSSE HERRERA RUIZ ADVISES SOCIEDAD CONCESIONARIA VIAL MONTES DE MARÍA S.A.S. AND ITS SPONSOR SACYR CONCESIONES COLOMBIA S.A.S. IN THE OFFERING BY PATRIMONIO AUTÓNOMO MONTES DE MARÍA OF ITS SENIOR SECURED NOTES, THE FIRST SOCIAL BOND FOR AN INFRASTRUCTURE PROJECT IN LATIN AMERICA. THE ISSUANCE IS BACKED BY THE U.S. INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC).
Posse Herrera Ruiz acted as legal counsel to Sociedad Concesionaria Vial Montes de María S.A.S. and its sponsor Sacyr Concesiones Colombia S.A.S. in the offering by Patrimonio Autónomo Montes de María of COP$760 billion of its senior secured UVR indexed notes due 2045, the first social bond for an infrastructure project in Latin America. The issuance is backed by the U.S. International Development Finance Corporation (DFC).
The bonds will be used for the refinancing of the project “Puerta Del Hierro – Palmar De Varela Y Carreto – Cruz Del Viso”, granted under the Concession Agreement No. 007 of 2015, entered into with the National Infrastructure Agency “Agencia Nacional de Infraestructura”, part of the second group of the fourth (4th) Generation Toll Road Concession Projects known as 4G.
BTG Pactual and Santander acted as joint bookrunners, and Santander as social bond structuring agent.
DEAL VALUE: COP 760.000.000.000
ANNOUNCEMENT/SIGNING DATE:
Thursday, April 22, 2021
CLOSING DATE:
Thursday, April 29, 2021 Cross-border matter: Yes ☒ No ☐ New York
LEGAL ADVISORS
COUNSEL TO Sociedad Concesionaria Vial Montes de María S.A.S. and its sponsor Sacyr Concesiones Colombia S.A.S.