IN BRIEF: Colombia highway concessionaire in US$260mn bond sale

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Monday, February 15, 2016

Colombian highway concessionaire Pacífico Tres sold US$260mn in bonds to help pay for its Pacífico 3 highway project, part of the country's ambition 4G road-building program.

Colombian President Juan Manuel Santos described the transaction as "historic" as it was the first time such an instrument had been used to finance an infrastructure project in Colombia.

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The issue was fully subscribed, signifying the confidence the investment community has in the country's infrastructure plans, Santos added, Colombia's national infrastructure agency ANI said in a release.

US bank Goldman Sachs was bookrunner for the offering.

Pacífico Tres comprises Colombian companies Construcciones El Cóndor and Mario Huertas Cote and Costa Rican firm Constructora Meco.

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