Concessions

Sacyr wins LatinFinace award for social bond issue over Montes de María highway, Colombia

  • The social bond issue was the first of its kind tied to an infrastructure project in Latin America
  • LatinFinance recognized the concession company’s exemplary management to issue this bond during the pandemic.

05/10/2021

New York, United States, October 5, 2021.-

Sacyr Concesiones has won the LatinFinance award in the category to best financing in local currency for the social bond issue to refinance Montes de María roadway P3 for 209 million dollars (760 billion Colombian pesos).

For the award ceremony, this prestigious publication considered aspects such as the agreement’s execution, the size of the financial operation in Colombian pesos, the process’ complexity, the innovation, how it was structured and how relevant the operation was to this market.

This bond issue was aligned with Sacyr’s 2021-2025 Strategic Plan, which anchors sustainability as the cornerstone for the company's actions. The issuance is backed by the U.S. International Development Finance Corporation (DFC) and expires in 24 years, that is May 2045.

The classification as social bond for the issuance, is preceded by an evaluation and analysis process by an independent third party (V.E.) that confirms the bonds alignment with a series of criteria defined by the ICMA (International Capital Markets Association) under the “Social Bond Principles 2020”. Among other factors, they assess the positive impact that the project will bring to the nearby communities to the project’s influence area.

BTG Pactual and Santander act on this issue as bookrunners for the placement. Santander has also served as the structuring bank for the process of obtaining the social bond classification for the issuance.

 

 

Concesionaria Vial Montes de María

Sacyr Concesiones, through Concesionaria Vial Montes de María, is in charge of the operation and maintenance of the fourth generation (4G) road corridor Puerta de Hierro – Palmar de Varela y Carreto – Cruz del Viso in the department of the Caribbean departments of Sucre, Bolívar and Atlántico. The road corridor, 198-km-long, connects the principal seaports and cities of the Colombian Caribbean. This project improves the quality of life of close to 320.000 inhabitants of the infrastructure’s influence zone.

With a total 177 million-euro investment and the creation of more than 5,500 jobs throughout its execution, the project consisted on the betterment of 164 road km, rehabilitation of 2 km, and the construction of a 5.2 km of alternate roads, in addition to the installation of Intelligent Transport Systems that allow for better communication and safety for the road’s users.

Sacyr Concesiones begun the operation and maintenande of the first of the four 4G projects that it develops in Colombia, the Puerta de Hierro – Palmar de Varela – Cruz del Viso road corridor.

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