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SubscribeCuatrecasas advised Banco Davivienda S.A., Banco Itaú Colombia S.A., CAF-AM Ashmore II Senior Debt Fund and BONUS Private Capital Fund – Compartimento Infraestructura II, on financing of COP 887 billion, which will be used for the works to expand, modernize, and improve Colombia’s Rafael Núñez International Airport, the third most important airport in Colombia based on passenger capacity.
This transaction marks a milestone for Colombia’s air sector, as it is the first private initiative under the public-private partnership (“PPP”) model, structured within a 5G infrastructure program, and will have a positive impact for the region’s connectivity.
“This new financial closure shows that 4G and 5G concession programs, as well as the PPPs under their framework, continue to consolidate their position as international success cases in the development of infrastructure in Latin America. We congratulate our clients for continuing to support projects that have a positive impact on the country’s competitiveness and economy,” said Manuel Quinche, managing partner of the Bogotá Cuatrecasas office.
The expansion and modernization project will involve a total of 25,144 m² of the terminal in a construction phase of 2.5 years. Recently, Colombia’s National Environmental Licensing Authority gave the green light to the concessionaire (OINAC), so that the 18 works in the project are considered minor changes, corresponding to 75% of the total of the works.
At the end of 2025, the Rafael Núñez International Airport had achieved a record passenger capacity of 7.7 million, establishing itself as the most important airport in the Colombian Caribbean region and the airport with the most connections in the region, with 18 international routes and 6 national routes.
The Cuatrecasas advisory team was led by partner Manuel Quinche, with the participation of lawyers Juanita Calderón, Angie Gómez, Catalina Herrera, Ana Katrín García, Luisa Penagos and Pablo Amorocho (Finance) and Andrés Martínez (Infrastructure).
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