BNDES approves US$960mn loan for Via Paulista
Brazil's state-run bank BNDES approved a 3.64bn-real (US$958mn) loan for highway concessionaire Via Paulista which administrates the Rodovia dos Calçados, around 720km of road stretches between the cities of Itaporanga and Franca, in São Paulo state.
Via Paulista is a specific purpose company (SPE) and formed by Arteris, a subsidiary of Spain's Abertis and the Brazilian unit of Canada's Brookfield Motorways holdings.
"BNDES support, in the form of project finance, corresponds to 57% of total investments of 6.39bn reais. In addition to BNDES financing, the project will also have support through the issuance of infrastructure debentures, up to 400mn reais, with a total term of eight years," BNDES said.
Via Paulista won the 30-year contract in an auction in April 2017. The project includes road concessions between the cities of Itaporanga and Franca. The 10-highway network includes parts of the SP-255, 249, 257, 281, 304, 318, 328, 330, 334 and 345 roads. They pass through a total of 35 municipal regions, including cities such as Bauru, Itapeva, Ribeirão Preto and Sorocaba.
Besides the operation and maintenance of the highways, the contract requires widening roads, modernizing equipment and systems, and other improvements.
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