IFLR1000

Pacifico 3 toll road PPP

22/2/2016
PPP, Project bond issue, Project finance
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Col$ 2.18 billion

Completed

22/2/2016

Overview:

  • Pacifico 3 toll road PPP
  • Developer Concesión Pacífico Tres has obtained $689 million to construct the Pacífico III fourth-generation (4G) highway.
  • Part of Colombia's Prosperity Highways infrastructure plan, the Pacífico III connects the Colombian jurisdictions Antioquia, Caldas and Risaralda
  • The highway is expected to be completed in 2020.
  • The project involved both the use of project bonds and of bank loans to fund the project, making it both an innovative financing and infrastructure transaction.
  • The lenders were Bancolombia, Corpbanco and Credicorp.
  • Goldman Sachs acted as lead arranger.
  • National Development Finance (NDF) acted as subordinated lender.

Rani Mehta - Journalist

Kurt Stumpo - Journalist

Jurisdictions:

United States
Colombia

Deal types:

PPP
Project bond issue
Project finance

Practice areas:

Project finance
Project development

Industry sector:

Transport

Firms:
Castro Leiva Rendón Abogados

Party: Concesíon Pacífico Tres (Concessionaire)

Lawyers: Carlos Eduardo Padilla Vila, José Ignacio Leiva González, Marcela Castro

Clifford Chance

Party: Bancolombia (Lender)

Party: Goldman Sachs (Lead arranger)

Party: Corpbanco (Lender)

Party: Credicorp (Lender)

Holland & Knight

Party: National Development Finance (NDF) (Subordinated Lender)

Milbank

Party: Concesíon Pacífico Tres (Concessionaire)

Lawyers: Carlos Albarracín, Carolina Walther-Meade

Philippi Prietocarrizosa Ferrero DU & Uría

Party: Bancolombia (Lender)

Party: Goldman Sachs (Lead arranger)

Party: Corpbanco (Lender)

Party: Credicorp (Lender)

Lawyers: Jorge Di Terlizzi, Juan Fernando Gaviria Guzmán

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