Corredor C - Toll Road (DFC-2019-CORREDORCTO)

Countries
  • Argentina
Where the impacts of the investment may be experienced.
Specific Location
Buenos Aires - Mendonza
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Corredor C TPI Purchase Vehicle, LLC
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 400.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1,027.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Jul 7, 2020

Disclosed by Bank Sep 7, 2019


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Project Description

"The securitization of payment certificates, called Títulos de Pago por Inversión (“TPIs”), used to finance the rehabilitation and expansion of an existing 876-kilometer (“km”) dual carriage way toll road and building two new by-passes used to transport cargo between Argentina and Chile (the “Project”). Issued in accordance with the public-private partnership (“PPP”) law passed in 2016, the TPIs will be issued and payable by a trust (the “PPP Toll Road Trust”) that was established by the government of the Argentine Republic (“GoA”) and benefits from dedicated funding sources backstopped by a GoA top-up obligation. The PPP Contractor is a subsidiary of a leading Argentine construction firm, José Cartellone Construcciones Civiles S.A. (“Cartellone”), which won the Project concession (the “PPP Contract”) pursuant to a public bid and will carry out the construction contractor."

Investment Description
  • US International Development Finance Corporation (DFC)

A direct loan with an aggregate principal amount not to exceed $400,000,000 with a tenor of not more than 15 years from the first disbursement.

Contact Information

No contact information available at the time of writing