Odinsa is awarded Best Loan by LatinFinance for the successful financing process of Pacífico 2

  •  The award granted to the concession company of Grupo Argos ratifies the robustness and trust that this business group generates in the financial sector and transfers to its affiliates.
  • LatinFinance described the financing undertaken for Pacífico 2 as the most important in Latin America.
  • The entity analyzed aspects such as importance of the transaction in the market, structural complexity, execution, performance in the secondary market and geographical scope.
  • The total amount of the financing obtained for Pacifico 2, approximately COP 1.3 trillion, consisted of a USD 250 million dollar loan and a COP 510 billion peso loan.

Medellín, October 2018 – Odinsa, a concession company of Grupo Argos, continues to establish itself as a solid investment channel for Latin American connectivity. Yesterday, October 3, the company received the Best Loan award at the LatinFinance’s Project & Infrastructure Finance Awards for the financing process and successful financial closing of the Fourth Generation Pacífico 2 project, for which it is the majority shareholder.

Following the financial closing and under the established conditions, Odinsa and its partner El Condor, together with international and national allies, managed to ensure the flow of resources to maintain the continuity of the Pacífico 2 works with the first disbursement of the financing obtained, amounting to approximately COP 1.3 trillion, which consisted of USD 250 million and COP 510 billion. It involved the financing of infrastructure in Colombia from three international entities.

“We receive this recognition to the management conducted in Pacífico 2 as excellent news not only for our company, but also for our sector and especially for the country, as it translates into a trust mark for the market and a driving force for the development of public and private infrastructure projects that continue to boost the competitiveness of Colombia and the region,” stated Mauricio Ossa, President of Odinsa.

The importance of the transaction in the market, its structural complexity, its execution, performance in the secondary market and geographical scope were the aspects analyzed by LatinFinance for selecting Pacífico 2 as the winner of this category, compared to similar transactions in Latin America, highlighting the complexity of the transaction and the diversification of currencies, as it was obtained in dollars and Colombian pesos.

About Pacífico 2

It is a fourth generation project operated by Conseción La Pintada, consisting of the construction, maintenance and operation of the new La Pintada-Bolombolo road and the restoration, maintenance and operation of the La Pintada-Primavera road in Antioquia. It is comprised of 96.5 km, and it is expected to provide 42.5 km of new roads, 2.5 km of tunnel, 54 km of restored roads and 43 bridges, with the aim of connecting the north of the country with Antioquia, the coffee region, Valle del Cauca and the Colombian Pacific.

Pacífico 2 is progressing successfully with an execution close to 54% to date, including the handover of the functional unit, to be completed at the end of this year, and the construction of Túnel de Mulatos, a highly engineered work that is part of Functional Unit 3 and will be 2.5 km long.

For more information, please contact: 

Andrea Jimeno / External Communications Director  ajimeno@odinsa.com / Celular: 3134964741

Viviana Arroyave / Media and Communications Lead varroyave@odinsa.com / Celular: 3176469218