Paraguay will tender turnkey works for USD 760 million

Law 5074

• Law 5074 regulates a type of public procurement for public infrastructure projects in which the bidder may design, construct, equip and finance a project. The ROP assumes the obligation to pay -and provides sovereign guaranty over such obligations- upon completion and delivery of an entire project or a complete and usable portion of a project (each, an “Hito”).
• Upon completion and delivery of an Hito, the ROP will issue a certificado de reconocimiento de obligación de pago- (the “CROPs”), which contain the unconditional and irrevocable obligation to pay, in United States of America Dollars, the value of the relevant Hito in a number of installments.
• The CROPs are issued with the sovereign guarantee of the ROP and constitute public-external debt of the ROP pursuant to the public-external debt definition of the ROP’s sovereign bonds offering memorandums.