Two offices of White & Case LLP have helped Australian investor AMP Capital obtain financing to acquire electric bus projects and concessions in Bogotá and Santiago. investor
The lenders – IDB Invest and BNP Paribas – relied on Clifford Chance LLP in New York and Philippi Prietocarrizosa Ferrero DU & Uría (Colombia).investor
Latin Lawyer understands that Colombian firm Brigard Urrutia also advised AMP Capital, but this could not be confirmed before publishing.investor
The deal was signed on 14 December for a confidential amount. The transaction is expected to close by the end of 2023.
The borrower will use the funds to acquire 229 electric buses in Bogotá’s TransMilenio system, as well as additional infrastructure relating to the Red Metropolitana de Movilidad public transit system in Chile’s capital Santiago.
This is the latest in a slew of financings for the expansion of the TransMilenio system, which now covers 114 kilometres of the Colombian capital. In September, three electric bus concessions in Bogotá obtained a US$96 million credit line from French investment bank Natixis, shortly after UK infrastructure group John Laing bought two electric bus concessions in the Colombian capital. Prior to that, French and Colombian development banks lent US$130 million to TransMilenio for the acquisition of an electric bus fleet.
Similar transactions have also been seen in Santiago. In November, the local subsidiary of Swedish vehicle manufacturer Scania obtained funds to acquire a bus fleet in Santiago’s Red Metropolitana de Movilidad.
Counsel to AMP Capital Investors
White & Case LLP
Partner Jeannine Acevedo and associate Christina Fernandez in Miami, and partner Ian Cuillerier and counsel Rhys Bortignon in New York
Counsel to IDB Invest and BNP Paribas
Clifford Chance LLP
Partner Fabricio Longhin and associates Julian Hurtado Vallejo, Daniel Justus and David Rondon in New York
Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)
Partner Juan Fernando Gaviria and associates María Daniela Hernández, Juliana Perez, Gabriela Acuña, Giulio Pacini, Juan Diego Vargas, David Beltrán and Diana Lozano in Bogotá.