Hogan Lovells advises Assured Guaranty in first Latin American infrastructure social bond

This is the first social bond linked to an infrastructure project  in Latin America and the first bond guaranteed by the US International Development Finance Corporation (DFC). The DFC guaranty was insured in part by Assured Guaranty.

A portion of the proceeds of the bonds refinanced the Mini-Perm loan obtained in December 2019 by Sociedad Concesionaria Vial Montes de María, which is developing the 192.6 kilometer Puerta de Hierro Toll Road project. The toll road will connect the Colombian port cities of Barranquilla and Cartagena with interior departments near the Caribbean coast, and further south to Medellín and Bogotá. The remaining proceeds will be used to complete construction of the project.

The Hogan Lovells team was led by Houston partner David Locascio with support from attorney Kyle Hamilton, also based in the firm’s Houston office.