Astris Finance advised the Consortium in connection with the structuring of the financing which was an integral aspect of the Consortium’s successful bid for the USD 5,700 MM Project.
The Consortium consists of a group of experienced European and Peruvian construction and development companies including Iridium Concesiones de Infraestructuras S.A. (a subsidiary of Grupo ACS), Vialia Sociedad Gestora de Concesiones de Infraestructuras, S.L (a subsidiary of FCC), Salini Impregilo SpA, Ansaldo STS SpA, Ansaldo Breda SpA, and COSAPI S.A. In addition to building the Metro system, the Consortium will also be responsible for the provision of electromechanical equipment and rolling stock.
The Project includes the construction of a system of 35 underground subway stations joined by 35 km of tunnels, which is expected to serve approximately 2.4 million users who live or work in the greater Lima area. Line 2 will run along the east- west axis of the city from Ate Lima to Callao. Once operational, the line is expected to serve more than 600,000 people daily, saving commuting time of up to 90 minutes. Line 4, on the other hand, will connect the Peruvian capital with Jorge Chávez International Airport. The Project is expected to employ more than 3,000 individuals during the five-year construction phase.
Astris Finance, together with Banco Santander, acted as Financial Advisor during the bidding process working to design an efficient financing structure for the Project which could be implemented in the required, tight timeframe. The financing, which has already been launched, is expected to include several innovative features in a multi-tranche structure including: a long-term international bond, a construction facility with local and international banks, and a multilateral/agency tranche.