Colombian 4G project gets credit line

Posse Herrera Ruiz in Bogotá has helped a concessionaire owned by Spanish construction company Sacyr obtain a US$50 million loan for a toll road in northern Colombia.

The firm advised concessionaire Vial Montes de María and Sacyr Concesiones Colombia as sponsor, while Cuatrecasas in Bogotá represented Sacyr Concesiones’ Spanish parent company, Sacyr.

The lenders Banco BTG Pactual, CIFI and Banco Pichincha Panamá relied on Uría Menéndez in London and Philippi Prietocarrizosa Ferrero DU & Uría (Colombia).

The deal was signed on 17 August.

Vial Montes de María will use the proceeds to fund the construction of a 202-kilometre-long motorway connecting the northern departments of Bolívar and Atlántico.

The toll road is part of Colombia’s 4G infrastructure programme, which aims to improve the country’s road network and includes some 50 projects and more than 10,000 kilometres of roadway and motorway. Vial Montes de María is one of the latest projects to obtain financing. In May, Jones Day and Brigard Urrutia helped Spain’s Grupo Ortiz get a US$200 million loan to fund a toll road near Bogotá. Garrigues advised the lenders on that deal.

Cuatrecasas and Posse Herrera have had a strategic alliance since 2016. It means Cuatrecasas’ clients coming to Colombia must use Posse Herrera as counsel, while Posse Herrera’s clients working in Spain and Portugal must turn to Cuatrecasas on international matters.

Counsel to Sociedad Concesionaria Vial Montes de María and Sacyr Concesiones Colombia

In-house counsel to Sociedad Concesionaria Vial Montes de María – Adis Cabarcas

In-house counsel to Sacyr Concesiones Colombia – Rafael Low

Posse Herrera Ruiz

Partners Mariana Posse and Alessia Abello, and associates Sebastián Lora, Jesús Albarrán, Andrés Herrera, María Camila Pérez and Carlos Guzmán in Bogotá

Counsel to Sacyr


Partners Carlos Lasarte and Alfonso Reina in Bogotá

Counsel to Banco BTG Pactual, Corporación Interamericana para el Financiamiento de Infraestructura and Banco Pichincha Panamá

In-house counsel to Banco BTG Pactual – Nicolás Feged Rivera

In-house counsel to CIFI – Alejandra Cervino

In-house counsel to Banco Pichincha Panamá – Pedro Escalona

Uría Menéndez

Partner Juan Carlos Machuca and associates Álvaro López Hernández and Jaime Álvarez in London

Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)

Partner Juan Fernando Gaviria and Jorge Di Terlizzi, and associates Carolina Duque, María Camila Quintero, Camila Orrego, María Camila Aponte, Beatriz Albors, Ana María Ramírez, Gabriela Naranjo, Isabela Loscher, Carlos Padilla and Maria Margarita Lorduy in Bogotá


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