Sacyr provides financing for Rumichaca - Pasto highway PPP project

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Sacyr Concesiones together with Sudinco has financed the Rumichaca-Pasto 4G project in Nariño, on the border between Colombia and Ecuador. The 83 km highway PPP project includes the development of 7 tunnels and about 30 bridges. 

The social financing of this project reaches US$800 million and includes a US$262 million social bond, a US$278 million multi-segment bank loan and another loan of US$260 million. The social bond issuance is the largest in Latin America and has received a Baa3 and BB+ rating. The issuance reaches maturity in February 2041 and ensures the project’s operation and maintenance for 20 years.

Goldman Sachs and JP Morgan acted as the lead arrangers and bookrunners for the placement, and Banco Santander as joint bookrunner. IDB Invest is the anchor investor of the issuance. The Colombian banking entities FDN, Bancolombia, Davivienda and UPI, Sumitomo Mitsui Banking Corporation, Société Générale, MUFG Bank, Ltd., N.A, Crédit Agricole Corporate and Investment Bank and Siemens Financial Services, Inc., have also participated in the financing.

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