DLA Piper is pleased to announce that the firm represented the Inter-American Investment Corporation (IDB Invest), a member of the Inter-American Development Bank (IDB) Group, in the project financing of the Ruta del Cacao toll road in Colombia, a transaction that recently received IJGlobal's 2018 Latin American Roads Deal of the Year award. The project is IDB Invest's first local currency financing for an infrastructure project in the country.
The Bucaramanga – Barrancabermeja – Yondó corridor, also known as Ruta del Cacao, is part of a fourth generation (4G) group of concessions being spearheaded by the Government of Colombia via its National Infrastructure Agency. The project, which covers a total area of 190.6 kilometers and is primarily located in the Department of Santander, creates a road connection between the city of Bucaramanga and the western area of the Department of Santander, as well as with the municipality of Yondó in the Department of Antioquia and with the Ruta del Sol II concession.
DLA Piper advised the IDB Invest team and other lenders on New York law matters related to the financing, including drafting and negotiating IDB Invest's loan agreement and advising on complex intercreditor arrangements.
The DLA Piper team was led by partner Gregory Smith (Washington, DC), US co-chair of the Projects and Infrastructure practice, and included partner Felipe Quintero (Bogotá), of counsel Amala Nath (Washington, DC) and associates Christopher Pearson (Washington, DC) and Ana Sánchez (Lima).