07 03 2016

Financiera de Desarrollo Nacional structures a secured credit enhancement line of credit for the fourth generation (4G) toll road project Pacífico 3.

Holland & Knight recently advised Financiera de Desarrollo Nacional (FDN), Colombia's infrastructure development bank, to structure a secured credit enhancement line of credit for the fourth generation (4G) toll road project Pacífico 3.


Financiera de Desarrollo Nacional S.A. offers financing solutions for infrastructure projects. It offers financing, guarantee, and advisory services for power and infrastructure projects. The bank is based in Bogota. This was the first 4G financing to close and the first credit enhancement transaction for FDN. The final structure, arranged by Goldman Sachs & Co., includes seven tranches of senior secured debt. The financing is one of the first international project bonds in Colombia. The Pacífico 3 project entails work on a 146-km stretch of highway in the Antioquia department of Colombia that is scheduled to take five years at a cost of more than US$850 million. 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 US$14.1 billion. Holland & Knight partner Norberto Quintana (Picture) has advised Involved fees earner: Norberto Quintana - Holland & Knight;

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