Concesionaria Vial Unión del Sur’s $375 Million and $200 Million Credit Agreement


Posse Herrera Ruiz acted as legal counsel to Concesionaria Vial Unión del Sur S.A.S. and its shareholders Sacyr Concesiones Colombia S.A.S., Sacyr Concesiones Participadas I, S.L., Caneybi Corp. S.A., and Herdoíza Crespo Construcciones Colombia S.A.S. Jones Day, and Noboa Peña Torres & Asociados also advised Concesionaria Vial Unión del Sur and its shareholders. Philippi Prietocarrizosa Ferrero DU & Uría advised the lenders, Milbank LLP and Alston & Bird advised Citibank, N.A. acting as loan administrative agent, intecreditor agent and offshore collateral agent.

Concesionaria Vial Unión del Sur S.A.S. and its shareholders Sacyr Concesiones Colombia S.A.S., Sacyr Concesiones Participadas I, S.L., Caneybi Corp. S.A., and Herdoíza Crespo Construcciones Colombia S.A.S. executed a credit agreement for the financing of the project “Rumichaca–Pasto”, granted under the Concession Agreement No. 015 of 2015 entered into with the National Infrastructure Agency “Agencia Nacional de Infraestructura”, part of the second group of the fourth (4th) Generation Toll Road Concession Projects known as 4G.

The financing of the project contemplates a credit agreement governed by the laws of the State of New York, United States of America, entered into with Banco Santander, S.A., JPMorgan Chase Bank, N.A., Crédit Agricole Corporate and Investment Bank, Bank of China, Instituto de Crédito Oficial, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corporation, Metlife, INC., and Citibank, N.A. (acting as loan administrative agent, intecreditor agent and offshore collateral agent) for an amount of USD$375,000,000; and a finance agreement governed by the laws of the State of New York, United States of America, entered into with the Overseas Private Investment Corporation for an amount of USD$200,000,000.

Acted as In-House Counsels in the transaction to Concesionaria Vial Unión del Sur S.A.S., Héctor Méndez, to Sacyr Concesiones Colombia S.A.S., Rafael Low, to

Herdoíza Crespo Construcciones Colombia S.A.S., Gabriel Solís, to Sacyr Concesiones S.L., Mercedes Rubio and Joaquín Pérez Marsa, to Sacyr Construcción Colombia S.A.S., Francisco Martínez León and Heli Rafael Hernández.

Posse Herrera Ruiz acted as colombian to Concesionaria Vial Unión del Sur S.A.S. and its shareholders counsel to with a team was led by Mariana Posse (Picture) and Alessia Abello, and included Sebastián Lora, Carlos Guzmán, Paula Knudson and Roberto Valenzuela.

The Jones Day team in New York was led by Fradyn Suárez, and included Jessica Mendoza, Juan José Huertas and Anabelle Dahdah. Jones Day also acted as spanish counsel with a team led by Fernando Lillo.

Noboa Peña Torres & Asociados team was led by ecuatorian counsel Patricio Peña.

Philippi Prietocarrizosa Ferrero DU & Uría acted as counsel to the lenders with a team led by Hernando Padilla, and included Carlos Padilla, Clara Robledo and Pedro Arango.

Milbank LLP advised the lenders with a New York team led by Carolina Walther-Meade and Henry Scott, including Anya Andreeva, Rebecca Francus and Ariella Stepanian.

Philippi Prietocarrizosa Ferrero DU & Uría advised Citibank with a team led by Nicolás Tirado, and included Cristina Pérez, and with the in-house Mauricio Beltrán.

Alston & Bird advised Citibank with a team led by Brad Johnson, and included Adam Smith and Gina Masterson.

Involved fees earner: Bradley Johnson – Alston & Bird LLP; Gina Masterson – Alston & Bird LLP; Adam Smith – Alston & Bird LLP; Anabelle Dahdah – Jones Day; Juan Huertas – Jones Day; Fernando Lillo – Jones Day; Jessica Mendoza – Jones Day; Fradyn Suárez – Jones Day; Anya Andreeva – Milbank; Rebecca Francus – Milbank; Henry Scott – Milbank; Ariella Stepanian – Milbank; Carolina Walther-Meade – Milbank; Patricio Peña Romero – Noboa, Peña & Torres; Pedro Arango – Philippi Prietocarrizosa Ferrero DU & Uría; Carlos Eduardo Padilla – Philippi Prietocarrizosa Ferrero DU & Uría; Hernando Padilla – Philippi Prietocarrizosa Ferrero DU & Uría; Cristina Pérez Escobar – Philippi Prietocarrizosa Ferrero DU & Uría; Clara Robledo – Philippi Prietocarrizosa Ferrero DU & Uría; Nicolás Tirado – Philippi Prietocarrizosa Ferrero DU & Uría; Alessia Abello – Posse Herrera Ruiz; Carlos Guzmán – Posse Herrera Ruiz; Paula Knudson – Posse Herrera Ruiz; Sebastián Lora – Posse Herrera Ruiz; Mariana Posse – Posse Herrera Ruiz;

Law Firms: Alston & Bird LLP; Jones Day; Milbank; Noboa, Peña & Torres; Philippi Prietocarrizosa Ferrero DU & Uría; Posse Herrera Ruiz;

Clients: Banco Santander Sa; Bank of China; Caneybi Corp S.A.; Citibank; Concesionaria Vial Unión del Sur S.A.S.; Crédit Agricole Corporate and Investment Bank; Herdoíza Crespo Construcciones Colombia S.A.S; Instituto de Crédito Oficial; JP Morgan; MetLife -Metropolitan Life Insurance Company; Mitsubishi UFJ Financial Group; Sacyr Concesiones Colombia, S.A.S.; Sumitomo Mitsui Banking Corporation;