São Paulo, August 2024. Astris Finance congratulates its client CYMI Construções e Participações S.A. (“CYMI”), a branch of Cobra IS that is also a subsidiary of VINCI SA (“VINCI”), a leading global long term infrastructure investor, on the successful financing of the Verde Ambiental Alagoas, a water concession project in the northeast region of Brazil.

The project consists of a 35-year brownfield concession that will improve water and sanitation services for an estimated population of 400,000 people in the state of Alagoas.

The ~USD 220 million (c. BRL 1.2 billion) financing will cover the project's 10-year construction period. To achieve an efficient capital structure, three sources of funding were successfully structured: (i) a loan from Banco do Nordeste (Northeast Development Bank), (ii) a loan from BNDES (Brazil National Development Bank) as well as (iii) debentures issued in the capital markets.

”We are very pleased to have advised CYMI on this transaction, their first water concession in Brazil. We were involved from bid stage to financial close and were able to work with development banks and the local capital market to offer the best possible terms and conditions to our client." said Daniel Uzueli, Astris’s Head of Brazil.

Astris acted as exclusive financial advisor to CYMI, with whom we have developed a long-standing global relationship in particular through several transactions in the transmission line sector in Brazil.

This landmark transaction further demonstrates Astris’ premier position in the Brazilian infrastructure and energy advisory market, where we are currently advising on transactions across a variety of sectors.