Rutas del Este Obtains Financing for Ruta PY02 Project
Gross Brown Law Firm advised on Sudameris Bank SAECA’s issuance of a loan of 29.8 million dollars to Rutas del Este. BKM | Berkemeyer advised Rutas del Este.
Rutas del Este is a Paraguyan contractor formed through the country’s first 30-year public-private consortium, and has received this loan to finance its additional work on Route PY02. The loan was granted within the Public-Private Partnership Contract for the construction of Routes 2 and 7, which is the first PPP Project of the Republic of Paraguay. The operation closed on 6 September.
The project was undertaken by mutual agreement of Rutas del Este and the Ministry of Public Works and Communications on new works to be linked to the NVI. These new works are to be linked to the NVI, giving continuity to the city of Itacurubu de la Cordillera, situated 88 kilometers from Paraguayan capital Asunción.
Gross Brown advised Sudameris Bank SAECA with a team comprising partner Sigfrido Gross Brown, senior associate Pablo Debuchy and associate Kamila Gimenez Carrizosa from the firm’s Banking & Finance practice.