Cartagena-Barranquilla highway PPP

Overview:

• Cartagena-Barranquilla highway PPP.
• Cartagena-Barranquilla highway is a fourth-generation (4G) highway being constructed under Colombia's 'Highways for Prosperity infrastructure' plan on public-private partnership basis.
• The Concesión Costera Cartagena Barranquilla has obtained $472 million to develop the Cartagena-Barranquilla highway.
• The loan package comprises a two tranche bond issue of $150.8 million and Col$327 billion, a Col$550.5 billion senior loan facility, and a Col$217.5 billion subordinated multi-purpose revolving loan facility, in addition to currency hedges and around $54.4 million in EPC insurance.
• Lenders included Bancolombia, Banco de Bogotá, Banco de Occidente, debt fund Ashmore and Colombian state-owned development bank, Financiera de Desarrollo Nacional.
• Goldman Sachs and Scotia Capital acted as initial purchasers.

Kurt Stumpo - Journalist