FERRERE advised CAF, Fondo II CAF-AM and BROU (the “Lenders”) on the financing of the Circuito 7 PPP Project for the design, construction, operation and financing of road infrastructure for Route number 3, section Route number 1 – Route number 11, and Bypass to the city San José de Mayo (the “Project”).

This is the first private initiative tendered through a Public Private Partnership. The Sponsors submitted their own design and scope of the project to the Ministry of Transport (“MTOP”), which led to the call for tender.

FERRERE advised the Lenders throughout the negotiation of the PPP Contract with the MTOP and on bankability matters related to negotiating and drafting the financing documents. FERRERE also took the lead in negotiating and drafting the security documents and Direct Agreements, as well as the project documents (EPC and O&M Contracts).

FERRERE acted as counsel for the Lenders in relation to the private placement of US$ 7 million in subordinated negotiable notes issued by the Borrower, the proceeds of which will be used to partially fund the Project.