Washington DC, October 2024. Astris Finance is pleased to announce the closing of a US$ 111m financing transaction for the Ferrocarril Central Rail Track PPP Project (the “Project”) sponsored by Sacyr Concesiones, NGE Concessions (subsidiary of French construction group NGE), Saceem and Berkes (the “Sponsors”).

Following up on Astris’ role as exclusive financial advisor for the cumulated raise of US$ 1,410m debt package, Astris advised the Sponsors in structuring and placing a US$ 111m financing package to fund an extension of the construction works and optimize the maturity of part of the existing senior debt (together, the “Financing”).

The Project, now in operation, consists of the design, construction, financing, rehabilitation, and maintenance of a 273 km railroad between the cities of Montevideo and Paso de los Toros, Uruguay, under a 20.25-year PPP contract.

The Financing package consists of:

1. The structuring and issuance of a US$ 65m private placement subscribed by Allianz Capital Partners under a new B Bond facility to support the Project costs

2. The structuring and issuance of a UI 300m (c. US$ 46m) subscribed by CAFAM to support the Project costs

3. The partial extension of existing IDB Invest Loan and existing Allianz B Bond to extend the maturity of existing facilities

With this financing, lenders have provided more than US$ 1.5 bn of multi-tranche financing to the Project in aggregate.

This financing represents another key milestone in our long-standing partnership with the Sponsors and exemplifies how Astris collaborates with its sponsor clients throughout their projects' life cycle, maximizing value at every stage.