21 April 2023
BBVA supports VINCI in the financing of the Via 40 Express project in Colombia
VINCI Highways has closed the long-term financial closing of its Via 40 Express project in Colombia, in which it has also acquired a majority stake. BBVA has been one of the entities that have participated in the financing of this iconic project that will connect Bogota with the South of Colombia and the most important port of the Pacific in a more efficient way.
The project, which runs along the 145-kilometer corridor, also known as the Bogotá-Girardot Third Lane, consists of widening and improving the existing road between the country's capital and the south of Colombia, connecting the main industrial centers with the largest seaport on the Colombian Pacific coast.
The financing has been closed for an amount of 2,602 billion pesos, equivalent to 578 million euros, and consists of a long-term tranche of 1,775 billion pesos (approximately 394 million euros) with maturities of 12, 15 and 20 years and a revolving credit facility of 827 billion pesos (approximately 184 million euros). This is one of the largest financial transactions in the infrastructure sector in Colombia.
This loan has a very positive social impact, as it facilitates access to road infrastructure for vulnerable communities along the highway, ratifying the lenders' commitment to continue supporting the equitable economic development of the country.
Carlos Alberto Rodríguez, Head of BBVA CIB Colombia, explains: "His deal ratifies BBVA's commitment to the development of Colombia, in this case represented by the advancement of road infrastructure. It has been gratifying for BBVA to participate in this financial closing as it allows us to strengthen our relationship with our clients by facilitating the financing of their projects in the country. We congratulate Vía 40 Express for this achievement and we look forward to the good development of the project."