Uruguayan Road Corporation will launch a new issue through the trust FF CVU III for 200 million dollars to finance the works plan infrastructure corresponding to the period 2020-2024.
Conafin Afisa will act as trustee and the title, which will be in Indexed Units (UI), will pay interest semiannually starting next June, with a capital grace period of 12 years, that is, until December 2035, and a constant amortization at from that date until June 2049.
The Corporación Vial del Uruguay trust will have three series: series I will be for 100 million dollars and with an annual interest of 3.80%, series II for 60 million dollars and 2.25% interest, while the Series III will be for 40 million dollars with an interest of 5.70%.
Subscriptions for the FF CVU III trust will open on Monday the 11th for wholesale offers. The next day, Tuesday the 12th, based on the price obtained in the previous tender, the issue will be offered to the retail public, who will access a placement of 30 million dollars in total between the three series.
Corporación Vial del Uruguay, current concessionaire of 3,400 kilometers of national routes, has been issuing debt in the stock market for six years, which it pays with the income it obtains from toll collection.
The company agreed to an extension of the concession for this infrastructure for 15 years, until 2051, granted by the Ministry of Transportation and Public Works (MTOP) last year, adding new 800 kilometers of route.
Last August, the South American Development Bank Fonplata approved Uruguay an infrastructure loan of 300 million dollars, the largest operation between the multilateral entity and the country. The projects will be executed by the Uruguayan Road Corporation.
Source: Ambito
