$650 Million Financing of Mar 2 Toll Road in Colombia


Holland & Knight advised Financiera de Desarrollo Nacional (FDN), Colombia’s infrastructure development bank, Sumitomo Mitsui Banking Corporation and the China Development Bank as lead arrangers of the $650 million financing of the Mar 2 project, which is part of Colombia’s fourth generation (4G) road infrastructure plan.

The deal was announced by Colombian President Iván Duque on July 31.

The financing includes two tranches, with FDN providing COP$500 billion, and Sumitomo Mitsui Banking Corporation and the China Development Bank providing US$501.7 million.

Autopistas Urabá S.A., the borrower, won a 25-year concession contract for the project in 2015. The concessionaire consortium is led by China Harbour Engineering Company Limited and includes China Harbour Concessions Company (Bermuda) Ltd., China Harbour Concessions Company, Sociedad Limitada, SP Ingenieros S.A.S., Unidad de Infraestructura y Construcciones Asociadas S.A.S. and Termotécnica Coindustrial S.A.S.

The Mar 2 project is a 254 km toll road in Antioquia, Colombia, that includes the construction of 11 tunnels and 59 bridges. It is the 17th project to receive funding within the 4G program. Holland & Knight has represented FDN in seven of these projects.

The lenders were represented by Holland & Knight partners Enrique Gómez-Pinzón (Picture) and Norberto E. Quintana and associate Maria Juliana Saa They received assistance from associates Lucas Saffon-Lopez, Maria Isabel Romero, Rafael Marulanda, Felipe Carrizosa and Edgar Andrés Martinez and senior counsel Carolina Arciniegas.

Involved fees earner: Carolina Arciniegas – Holland & Knight; Felipe Carrizosa – Holland & Knight; Enrique Gomez-Pinzon – Holland & Knight; Andrés Martínez – Holland & Knight; Rafael Marulanda – Holland & Knight; Norberto Quintana – Holland & Knight; Maria Romero de la Torre – Holland & Knight; Maria Juliana Saa – Holland & Knight; Lucas Saffon-López – Holland & Knight;

Law Firms: Holland & Knight;

Clients: China Development Bank (CDB); Financiera de Desarrollo Nacional (FDN); Sumitomo Mitsui Banking Corporation;

Author: Ambrogio Visconti.