Bogota Metro’s Project Financing

Clifford Chance has advised BBVA and Bancolombia on the matter. Cuatrecasas has advised concessionaire Metro Línea 1 S.A.S.

BBVA and Bancolombia acted as lenders in connection with the COP$678,450,500,000 (approximately US$175 million) bridge financing for the construction of the first line of the Bogota Metro. The line will consist of a 24 kilometer viaduct with 16 stations along its route, integrating with Transmilenio, Bogota’s bus rapid transit system.

The Bogota Metro is expected to improve productivity and mobility in the city by reducing current travel time by half. The project is expected to create more than 17,000 job opportunities and form part of the reinvigoration of Bogota’s economy. It was also designed to be energy efficient and environmentally friendly, operating with natural light and ventilation.

Working with Clifford Chance’s Counsel Alberto Haito was a cross-border, cross-practice team including: Washington, DC: partners Fabricio Longhin (Picture) and Kate McCarthy and associate Daniel Justus, Shanghai: partners Jiahua Ni and Lei Shi, Beijing: senior associate Chengcheng Wu and associate Wen Xiao, Hong Kong: senior associate Feifei Yu, London: senior associate knowledge lawyer, Benjamin Barrat, senior associate Prakruthi Gowda and lawyer Dominic Behar.

The Bogotá office team included Corporate and M&A lawyers Manuel Quinche, Juan Carlos Puentes, Andrés Herrera, Natalia Serrano, Sara Gómez, Juan Uribe-Holguín and Lorenzo Lizarralde; and Cristina Stiefken from Tax.

Involved fees earner: Alberto Haito – Clifford Chance; Daniel Justus – Clifford Chance; Fabricio Longhin – Clifford Chance; Catherine McCarthy – Clifford Chance; Jiahua Ni – Clifford Chance; Lei Shi – Clifford Chance; Chengcheng Wu – Clifford Chance; Sara Gómez – Cuatrecasas; Andrés Herrera – Cuatrecasas; Juan Carlos Puentes – Cuatrecasas; Manuel Quinche – Cuatrecasas; Natalia Serrano – Cuatrecasas; Juan Uribe-Holguín Borda – Cuatrecasas; Cristina Stiefken – Lewin & Wills;

Law Firms: Clifford Chance; Cuatrecasas; Lewin & Wills;

Clients: Bancolombia; BBVA Argentina (BBVA); Metro Línea 1 S.A.S.;

Giulia Di Palma

Author: Giulia Di Palma