Dentons Jiménez de Aréchaga has helped a Uruguayan special purpose vehicle (SPV) obtain project financing worth US$125 million to build and maintain a motorway that connects the country to its neighbour Brazil.
The SPV is jointly controlled by Spanish constructor Rover Infraestructuras and Uruguayan engineering company Construcciones Viales y Civiles. Rover relied on in-house counsel, while its Uruguayan business partner turned to PPE Abogados.
The lenders – which included IDB Invest – enlisted Posadas.
The deal closed on 13 May.
The SPV is in charge of building and maintaining a road that runs along Uruguay’s border with Brazil. The project crosses the departments of Montevideo, Canelones, Florida, Durazno, Cerro Largo, Tacuarembó and Rivera.
Uruguay, which is heavily dependent on its motorways for exports to neighbouring countries Argentina and Brazil, regularly sees financing deals in its infrastructure sector. Last month, an SPV obtained a US$137 million project financing to construct a motorway in southern Uruguay. That followed a US$73 million loan last year for local construction company Grupo Vial Oriental, which used the funds for a motorway project connecting Uruguay and Brazil.
Counsel to Circuito Seis Cuchilla Grande
Dentons Jiménez de Aréchaga
Partner Fernando Jiménez de Aréchaga Jr and associates Daniela de Castro and Carolina Bianchi
Counsel to Rover Infraestructuras
In-house counsel – Pablo Pozuelo De Felipe
Counsel to Construcciones Viales y Civiles
PPE Abogados
Partner Joaquín Ponce de León and associate Andrea Piacenza
Counsel to IDB Invest, BBVA Uruguay, Banco de la República Oriental del Uruguay and Banco Bilbao Vizcaya Argentaria
In-house counsel to IDB Invest – Ignacio Imas
Posadas
Partners Tomás Gurmendez and Victoria Garabato, and associates Marina Jiménez de Aréchaga, José María Tais, Florencia Larraburu, Paulina Ualde, Karina Souza, Federico Samudio and Magdalena Cuñarro
Source: Latin Lawyer