12 November, 2019 Colombia

The 4G project Cucuta-Pamplona’s $90 Million Bridge Loan


Posse, Herrera & Ruiz and Philippi Prietocarrizosa Ferrero DU & Uría advised on the transaction.

The 4G project Cucuta-Pamplona secured a bridge loan for the US $ 90 million, which was approved by JPMorgan Chase Bank NA and Deutsche Bank AG.

The National Infrastructure Agency (ANI) said that obtaining this international financing guarantees the execution of works that currently have a 7.5% progress.

The work that is executed through the Río Pamplonita Union Road Concession has no financial closure yet. This loan allows the work to continue, but it is still necessary to consolidate the improvement of the long-term senior debt for the total project.

The project includes the construction of 50.2 km of new road, between the second road and simple road and the rehabilitation of 72.2 km of existing road between Pamplona and the Betania sector, in the municipality of Los Patios, in addition the two first tunnels that the border department will have.

Philippi Prietocarrizosa Ferrero DU & Uría advised JPMorgan Chase Bank N.A., London Branch and Deutsche Bank AG, New York Branch with a team including Jorge Di Terlizzi, Hernando Padilla, Carlos Padilla, Clara Robledo, Ximena González and Pedro Arango.

Posse Herrera Ruiz advised Sacyr with Mariana Posse, Jesús Albarrán, Carlos Guzman and Roberto Valenzuela.

Source: Global Legal Chronicle

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