Refinancing package announced for Ferrocarril Central PPP project

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Sacyr Concesiones-led consortium has closed a US$475 million refinancing transaction for the Ferrocarril Central Rail Track PPP Project.

The consortium comprises Sacyr Concesiones, NGE Concessions, Saceem and Berkes. Astris advised the consortium in structuring and placing a financing package to fund new investments and replace a piece of the initial financing, as well as extending the maturity and reprofiling part of the existing senior debt.

The Refinancing package consists of:

  • The structuring and issuance of a US$250 million private placement subscribed by Allianz GI under a B Bond facility to support the construction of the Project and refinance a portion of the initial financing;
  • The refinancing of US$175 million of IDB and IDB Invest Loans to extend the maturity of existing facilities and match the B Bond repayment profile;
  • The refinancing of a US$ 50 million B loan provided by Intesa San Paolo.

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