Odinsa S.A. informs that today the Board of Directors unanimously through the written voting mechanism and in relation to the refinancing process of the Concession Tunnel Aburrá Oriente S.A. (“The Concession”), authorized the legal representative to:
i. The signing of a non-tenure pledge security agreement on all the shares currently held in La Concession, or those that become, to back a bridge loan syndicated for $ 660,000,000,000, granted to La Concesión by Bancolombia, Banco de Bogotá, Davivienda, Banco Popular and Banco de Occidente. The collateral must be granted in favor of the banks that finally participate, in the corresponding proportion; and,
ii. The conclusion of a mutual contract with The Concession (lender) up to $49,000,000,000, as well as to grant the required guarantees for that operation. The Aburrá Oriente Tunnel Concession has become one of the most important road corridors relevant areas of Antioquia, managing to strategically interconnect the valleys of Aburrá (Medellín) and San Nicolás (Rionegro) and reduce travel times by 60% between these subregions of great economic dynamism in Antioquia by means of 17 Km of tunnels, including 8.2 km of the Santa Elena Tunnel, the second longest in operation in Colombia, 4 viaducts, 6 bridges and road interchanges, with an investment over a billion pesos, which today are benchmarks of national engineering and bring large benefits to the department.