The last year of the decade was very kind to us, a record year in fact. In 2019 our group made financial closures and refinancings valued in over EUR 3.7 billion with international banks, multilaterals and investment and debt funds all over the world.
Our P3 projects in Chile, Colombia, Uruguay, Paraguay and Spain have been financed by a long list of international banks, amongst them Banco Santander, Sociéte Generale, SMBC, Banco de Chile, Bank of China, Credit Agricole, Intesa San Paolo, and Goldman Sachs; multilaterals as BID, CAF, CAFAM and OPIC; and investment and debt funds like Blackrock, BTG Pactual and JP Morgan.
These operations show clear support and trust in Sacyr from some of the most important international banks and financial institutions. This also demonstrates our team’s ability to create value in each stage of a project’s life cycle, following a vertical integration business strategy as well as optimizing the financial strategy and the turnover of active assets.
Our main financial operations during 2019 were:
-Chile: Financing of Américo Vespucio Oriente in Chile (EUR 840 million) and the refinancing of the Antofagasta Hospital (EUR 254 million)
-Uruguay: Financing Ferrocarril Central (EUR 765 million) with a senior loan
-Colombia: Financing of Autopista al Mar 1 (c. EUR 630 million), securing of a bridging loan for the Pamplona-Cúcuta highway (EUR 80.6 million), and financial closing of the Rumichaca-Pasto Road (EUR 513 million) and the Puerta de Hierro highway (EUR 168 million).
-Paraguay: Financing of Rutas del Este (+ EUR 440 million)
-Spain: Financing of Las Setas de Sevilla (EUR 20 million)
Last year’s closings build on the success achieved in 2017 with 2,537 million euros in financing. Amongst which the most noteworthy was the issue of bonds for the Pedemontana-Veneta highway in Italy valued in 1,517 million euros and 752 million euros in 2018 from, among other operations, the issuing of a subordinate debt for the amount of 228 million euros for the refinancing of the Malaga-Las Pedrizas highway in Spain.
Value of financial closures and refinancings in 2019