Global Infrastructure closes loan investment in Ferrocarril Central

By Sarah Lizee

Olympia, Wash., July 14 – Global Infrastructure Partners credit fund GIP Spectrum Fund, LP and affiliates closed on a $67.5 million participation in an aggregate $75 million second-lien term loan investment in Grupo Via Central SA, according to a press release.

Grupo Via Central was established by sponsors Sacyr, NGE, Saceem, and Berkes to design, construct, rehabilitate and maintain the 273-kilometer Ferrocarril Central freight railroad connecting central Uruguay to the capital port city of Montevideo. The project is underpinned by availability payments via a public private partnership contract between Grupo Via Central and the government of Uruguay through the ministry of transport and public works.

Proceeds from the term loan, together with a first-lien senior bank term loan, advance payments from the government of Uruguay and common equity from the sponsors will fund the construction of the roughly $1.1 billion project.

Global Infrastructure is a New York-based fund that invests in infrastructure companies and assets.

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