Leading global law firm Baker McKenzie worked on four project financing deals, which have won "Road Financing of the Year," "Port Financing of the Year," Infrastructure Financing of the Year," and "Digital Infrastructure / Telecoms Financing of the Year" at LatinFinance's Project & Infrastructure Finance Awards 2022.

"We are proud to be a part of important infrastructure projects, which will help modernize Colombia's mobility and close the significant infrastructure gap in the country," said Alejandro Mesa, Managing Partner at Baker McKenzie Colombia. "Some of these deals are a first-of-its kind transaction for the Colombian market, and we reaffirm our commitment to innovate to provide solutions for our clients," he added.

The award-winning projects were:

Autopista Rio Magdalena 2
(Road Financing of the Year)

  • Where we helped Mexican infrastructure group Aleatica obtain a multi-tranche financing worth 2.7 trillion Colombian pesos (USD 747 million) to develop a toll road – Autopista Río Magdalena 2 – in northern Colombia.
  • Aleatica will use the funds to construct new roads and complete renovations at the 153-kilometre Autopista Magdalena Río network, which connects the northern departments of Antioquia and Santander. The Mexican transport group was awarded the 25-year concession as part of Colombia’s 4G programme, a government-led initiative to overhaul more than 7,000 kilometres of the country’s road infrastructure.
  • Partner Carolina Duque led the team with the support of associates María Camila Vargas, Laura Rincón, Sebastián Boada, Daniel Fajardo, Joshua Daza and Paula Melendro in Bogotá.

Puerto Antioquia
(Port Financing of the Year)

  • Where we helped UPLI, one of the sponsors in the negotiation of both the senior facilities granted for an amount of USD 394 million credit line as well as the mezzanine facility granted by Global Infrastructure Partners to a port in the northern department of Antioquia, in the due diligence of the project properties, among other legal aspects.
  • Puerto Antioquia will use the funds to develop, build, operate and maintain a greenfield port facility in the Gulf of Urabá as part of a 30-year contract. The total estimated cost of the port is USD 674 million.
  • Partner Ricardo Trejos led the team with the support of partner Alejandro Mesa and associates Sebastián Boada, María Montejo and Paula Melendro.

Andes: Rumichaca-Pasto 4G Toll Road
(Infrastructure Financing of the Year)

  • Where we advised Davivienda, one of the banks to help steer Colombia's largest-ever 4G toll road financing worth approximately USD 906 million, in the negotiation and preparation of all financing documents.
  • The toll road is in the department of Nariño near the Colombia-Ecuador border and is a landmark financing transaction in the Colombian infrastructure sector. It is the first to include a project-level letter of credit facility for a local project.
  • Partner Carolina Duque led the team with the support of associates Mónica Cubillos, Nathalia Cardoso and María Camila Vargas.

KKR's Telefónica Acquisition
(Digital Infrastructure/Telecoms Financing of the Year)

  • Where we advised Scotiabank Colpatria S.A., Bancolombia, BBVA and The Bank of Nova Scotia as lenders in a multi-tranche and multicurrency facility agreement for an aggregate committed amount of USD 221 million for KKR to invest UDS 500 million for a majority stake in Telefónica Colombia's fibre optic network, allowingn the two companies to establish the country's first wholesale digital infrastructure venture.
  • With the investment from KKR, the new company, Infraco, plans to expand its existing fibre optic coverage from 1.2 million homes to 4.3 million by the end of 2024, covering at least 87 Colombian municipalities.
  • Partner Ricardo Trejos led the team with the support of partner Carolina Duque and associates Mónica Cubillos, María Camila Vargas, Cristina Mejía, and Nathalia Cardoso.

Baker McKenzie is a transactional powerhouse with over 2,500 deal lawyers and expertise in over 46 countries. The firm excels in cross-border deals, with over 60 percent of deals being multi-jurisdictional. We are global and local, combining money market sophistication with local excellence.


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