CAF Asset Management and Ashmore receive the IJGlobal Awards 2023 for their financial efficiency on roads in Colombia

The Transversal del Sisga project strategically integrates the Bogotá-Tunja and Villavicencio-Yopal corridors, covering more than 137 kilometers of concession, which will improve the well-being of the population, competitiveness and productivity. CAF-AM and Ashmore participated in the initial financing of the project aslead arrangers for its construction and also in its refinancing 5 years later, which allowed, in addition to the optimization of the financial structure, an advance of profits to investors in a project that has substantially exceeded the construction risk.

“CAF-AM and Ashmore are proud to support the development of Colombia's transportation infrastructure in their role as senior long-term lender in the Transversal del Sisga project with a 30% participation in the total financing equivalent to COP 942 billion. (approximately USD 241 million). The mobilization of private capital that we have achieved allowed us to achieve financial closure and efficient refinancing that allow long-term development projects to generate a direct impact on the well-being of Colombians,” said Alberto Ñecco, general manager of CAF-AM.

CAF-AM has been a pioneer in the deployment of this type of solutions in the region with successful experiences in Colombia and Uruguay in the management of private capital funds -mainly pension funds- for more than USD 1.2 billion. These funds have made possible the advancement of highway projects such as 4G in Colombia and more than 200 educational institutions, road projects and the central railway in Uruguay.

As part of its expansion strategy, since last February 13, CAF-AM began activities in Costa Rica to mobilize resources for infrastructure projects and public services through aInfrastructure Senior Venture Capital Investment Fund, which will improve the supply of long-term financing in local currency and is aimed at the institutional investor segment, among which are pension funds, insurance companies,family offices, among others.

Furthermore, on February 29, he placed the newFinancial Trust Debt Fund for Infrastructure in Uruguay V CAF-AM, for a total amount of 2,000 million Indexed Units (UI), equivalent to about USD 300 million, which will be allocated to senior debt financing of infrastructure projects in the country for a maximum term of 30 years. In this case, demand was more than double the available supply of debt securities.