Concessionaire Metro Línea 1 makes progress with Bogotá’s first metro line project

Cuatrecasas has advised concessionaire Metro Línea 1 S.A.S. on obtaining a bridge loan subject to Colombian law of up to USD 178,539,605, granted by Bancolombia and BBVA Colombia, to finance the pre-construction costs of first metro line in Bogotá.

This transaction marks the closing of the first tranche of financing of one of Bogotá’s most highly anticipated and innovative projects. The work will renew 1,300,000 sqm of public areas and create 94,000 sqm of new space in the city. Designed in line with the principles of sustainable transit-oriented development to foster the use of clean energy, the metro will be capable of carrying 72,000 passengers per hour.

The Bogotá office team handling the transaction was made up of Corporate and M&A lawyers Manuel Quinche, Juan Carlos Puentes, Andrés Herrera, Natalia Serrano, Sara Gómez, Juan Uribe-Holguín and Lorenzo Lizarralde; and Cristina Stiefken from Tax.