Philippi Prietocarrizosa Ferrero DU &Uría acted as Counsel to the banks, the holders of the notes and Cititrust; Brigard & Urrutia, as local counsel to ISA; Castro Leiva, as local counsel to the concessionaire; Holland and Knight, as local counsel to FDN; Clifford Chance, as counsel to the banks and the note holders; Milbank, as counsel to the Concessionaire; Clifford Chance, as counsel to ISA; Morales y Besa, as chilean counsel to ISA; ReedSmith, as counsel to Citibank.
ISA Inversiones Costera Chile SpA (“ISA”) executed the acquisition of the Concessionaire “Concesión Costera Cartagena Barranquilla S.A.S.” and the assumption of, and assignment to, ISA in connection with the obligations of the sponsors of ISA and ISA under the long term financing granted by the Banks and the note holders. The transaction valued COP 2 billion.
Bancolombia, Banco de Occidente, Banco de Bogotá, CAF-AM Ashmore acted as Holders of the Notes, and Cititrust S.A., the Sociedad Fiduciaria in the transaction.
FDN is the lender under a liquidity credit facility entered into in July 2016 to provide credit enhancement for the project financing provided to the Costera Cartagena Barranquilla project, which includes project bonds issued in the international markets and a long-term credit agreement denominated in Colombian pesos.
Concesión Costera Cartagena Barranquilla S.A.S, a company incorporated under the laws of the Republic of Colombia, subscribed with ANI the Concession Contract No. 004 on 10 September 2014. This Concession has 146 kilometers of roads and connects two main cities (Tranche 1: Cartagena-Barranquilla 110 km, and Tranche 2: Circunvalar de la Prosperidad between Malambo and Barranquilla 36 km of double lane).
ISA is the largest operator of interurban roads of the country and is in charge of the control, operation, and management of five Concessionaire Companies along 907 km of the South 5 Route, from Santiago to the Rio Bueno city (Ruta del Maipo, Ruta del Maule, Ruta del Bosque, Ruta de la Araucanía, Ruta de los Ríos), through which more than 151 million vehicles pass every year.
Philippi Prietocarrizosa Ferrero DU & Uría team included Juan Fernando Gaviria (partner; Picture), Marcela Silva (Partner PPU Chile), Clara Robledo, Daniel Parodi, María Garrido, Ana María Ramírez and Angie Gómez (Associates).
Brigard & Urrutia team included Manuel Quinche (Partner), Natalia Arango (Associate) and Sofía Esguerra (Associate).
Castro Leiva team included Marcela Castro (Partner) and Carlos Hernández (Associate).
The Holland & Knight team advising FDN was led by partner Norberto Quintana. He was assisted by senior counsel Maria Juliana Saa and associate Gustavo Rodriguez.
Clifford Chance team advising the banks and the note holders inlcuded Guido Liniado (Partner) and Julian Hurtado (Associate).
Clifford Chance team advising ISA included Gianluca Bacchiocchi (Partner), Luis Maria Clouet (Associate), Laura Loaiza (Associate).
ReedSmith team was led by Constantin Souris (Partner).
Morales & Besa advised Intervial Chile S.A. with a team including Carlos Silva, Myriam Barahona, Macarena Laso
and Patricio Novoa.
Involved fees earner: Natalia Arango Botero – Brigard & Urrutia; Sofía Esguerra de Pombo – Brigard & Urrutia; Manuel Fernando Quinche – Brigard & Urrutia; Marcela Castro Pineda – Castro Leiva Rendón Criales; Carlos Hernández – Castro Leiva Rendón Criales; Gianluca Bacchiocchi – Clifford Chance; Luis Maria Clouet – Clifford Chance; Julian Hurtado Vallejo – Clifford Chance; Guido Liniado – Clifford Chance; Laura Loaiza – Clifford Chance; Norberto Quintana – Holland & Knight; Juliana Saa – Holland & Knight; Myriam Barahona – Morales & Besa; Macarena Laso – Morales & Besa; Patricio Novoa L-H. – Morales & Besa; Carlos Silva – Morales & Besa; María Garrido – Philippi Prietocarrizosa Ferrero DU & Uría; Juan Fernando Gaviria – Philippi Prietocarrizosa Ferrero DU & Uría; Angie Gómez – Philippi Prietocarrizosa Ferrero DU & Uría; Daniel Parodi – Philippi Prietocarrizosa Ferrero DU & Uría; Ana María Ramírez – Philippi Prietocarrizosa Ferrero DU & Uría; Clara Robledo – Philippi Prietocarrizosa Ferrero DU & Uría; Marcela Silva – Philippi Prietocarrizosa Ferrero DU & Uría; Constantin Souris – Reed Smith; Gustavo Rodríguez Aradillas – Robles Miaja Abogados;
Clients: Banco de Bogota S.A.; Banco de Occidente, S.A.; Bancolombia; Citibank; Cititrust Colombia S.A.; Concesión Costera Cartagena Barranquilla S.A.S.; Financiera de Desarrollo Nacional (FDN); Fondo de Deuda Senior para Infraestructura en Colombia CAF- AM Ashmore I ; Intervial Chile S.A.; ISA Inversiones Costera Chile SpA;