Interconexión Eléctrica S.A. E.S.P’s Acquisition Of The Costera Cartagena Barranquilla 4G Toll Road

Clifford Chance advised Interconexión Eléctrica S.A. E.S.P and its subsidiary ISA Intervial Chile on the deal.

Interconexión Eléctrica S.A. E.S.P and its subsidiary ISA Intervial Chile acquired the Costera Cartagena Barranquilla 4G toll road in Colombia.

This transaction marks an important milestone in Colombia as the first toll road project under the 4G program that has obtained international financing to be acquired. This is also a significant step forward in ISA’s 2030 investment plan and diversification strategy.

The Costera Cartagena Barranquilla Project holds a 25-year concession to design, construct, improve, operate and maintain a 146km toll road located in the Atlantic region of Colombia. The Project’s main purpose is to connect Cartagena, Colombia’s fifth largest city by population, and Barranquilla, the largest city and port in the northern Caribbean coastal region of Colombia. The existing financing structure of the Project involves a US$150.8 million and COP 327 billion international bond offering, a COP 550.5 billion senior loan facility, a COP 217.5 billion subordinated revolving loan facility provided by Financiera de Desarrollo Nacional, currency hedges and approximately US$54.4 million of EPC performance insurance.

ISA is a multi-Latin group with 53 years of experience and history operating energy, toll roads, and telecommunications businesses throughout Latin America, supporting the development of these sectors in Colombia, Brazil, Chile, Peru, Bolivia, Argentina, and Central America. ISA has been included in the Dow Jones Sustainability Index for the fifth consecutive year making ISA one of the top 20 energy transmission companies worldwide.

Lead partner on the matter was Thais Garcia (Picture); the team also included partner Ed Bretherton (Picture – Construction), Banking & Finance partner Gianluca Bacchiocchi, lead associate Luis Maria Clouet and associates Patricio Abal (Banking & Finance) and Laura Loaiza (M&A).

Involved fees earner: Patricio Abal – Clifford Chance; Gianluca Bacchiocchi – Clifford Chance; Edward Bretherton – Clifford Chance; Luis Maria Clouet – Clifford Chance; Thais Garcia – Clifford Chance; Laura Loaiza – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Interconexión Eléctrica S.A.; ISA Intervial Chile;

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