Holland & Knight represented Financiera de Desarrollo Nacional (FDN), Colombia's infrastructure development bank, as liquidity facility lender, in the financing for the construction, rehabilitation, improvement, operation and maintenance of the Perimetral Oriental de Bogota project, a perimeter road corridor in Eastern Cundinamarca, which is part of Colombia’s fourth generation (4G) road infrastructure plan.
On May 25, a group of lenders led by the Inter-American Development Bank (IDB) and Colombian peso lenders Bancolombia, CorpBanca and FDN signed definitive financing documentation with the concessionaire for the project and its sponsor, Israeli infrastructure company Shikun & Binui. The debt financing package includes a US$156 million USD senior credit facility, a $870,000,000,000 Colombian peso senior credit facility, and a $45,000,000,000 Colombian peso credit enhancement senior subordinated liquidity facility.
Over the next eight years, 4G is expected to deliver 7,000 km of roads in three waves via public-private partnerships, requiring an investment of $14.1 billion.
Holland & Knight partner Norberto Quintana, based in New York and Miami, led the team of lawyers advising FDN. The team included associate Laura Güemes in New York, and partner Enrique Gómez-Pinzón and associate Juliana Saa in Bogotá. Senior Counsel Gabriel Caballero in Miami provided banking regulatory advice.
Allen & Overy: NY Counsel for Shikun & Binui and the concessionaire
Brigard & Urrutia: Colombian Counsel for Shikun & Binui and the concessionaire
Clifford Chance: NY Counsel for the Senior Lenders (Inter-American Development Bank, Bancolombia, CorpBanca and FDN)
Philippi Prietocarrizosa Ferrero DU & Uría: Colombian Counsel for the Senior Lenders (Inter-American Development Bank, Bancolombia, CorpBanca and FDN)
Holland & Knight LLP: NY Counsel for the FDN, as liquidity facility lender
Holland & Knight Colombia S.A.S.: Colombian Counsel for the FDN, as liquidity facility lender