Cuatrecasas advises Bancolombia on granting financing to a Medellín light rail developer
Cuatrecasas advised Bancolombia on granting financing of over COP 1 billion (with a total commitment of over COP 2 billion) to Empresa de Transporte Masivo del Valle de Aburrá to design, build and commission the light rail line along Avenida 80 in Medellín, Colombia.
This infrastructure has been qualified as the most important project for the city of Medellín in the last 25 years. Its 13.25 km track will cross the city from north to south and benefit over a million inhabitants. It aims to improve mobility in the city and the metropolitan connectivity with the Aburrá Valley. Moreover, the infrastructure is sustainable—with 100% electrical technology—and will make a significant contribution to reducing CO2 emissions in the city.
The transaction is a key milestone for the local banks as it involves financing with the highest individual commitments granted by Bancolombia, one of the country’s largest financial institutions.