America Vespucio Oriente highway concession project reaches financial close

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A team composed of Spain's Sacyr and Aleática (IFM Investors) has secured a loan financing for the America Vespucio Oriente highway concession project in Chile. The company has signed a EUR840 million (US$954.72 million) loan from a group of local financial institutions. The financial close has taken plave five years after the award of the concession. 

The financial entities that have led the operation, with 75%, are Banco de Chile, Banco del Estado de Chile and Banco de Credito e Inversiones (BCI). The remaining 25% was taken by Banco Consorcio, Compañía de Seguros de Vida Consorcio Nacional de Seguros, Principal Compañía de Seguros de Vida Chile, Bice Vida Compañía de Seguros S.A. and Metlife Chile Seguros de Vida.

The 9.3-km highway is one of the largest projects currently under construction in Chile. It is estimated that it will enter into operation in 2022 and will considerably reduce travel times, benefiting some 750,000 people in the city of Santiago.

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