Metropistas Investment Partners

Autopistas Metropolitanas de Puerto Rico - Project Acquisition

Industry
Infrastructure/Road
Area of finance
Project & Infrastructure Finance
Country
United States

Deal Overview

The Project consists of the 52‐mile PR‐22 and 4‐mile PR‐5 dynamic toll highways, a network of flat roads, 118 simple bridges, and seven toll plazas serving the largely urbanized north‐eastern and north‐western regions of Puerto Rico near its capital, San Juan. PR‐22 and PR‐5 began operating in 1972...

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The Project consists of the 52‐mile PR‐22 and 4‐mile PR‐5 dynamic toll highways, a network of flat roads, 118 simple bridges, and seven toll plazas serving the largely urbanized north‐eastern and north‐western regions of Puerto Rico near its capital, San Juan. PR‐22 and PR‐5 began operating in 1972 and 2006, respectively, and the PR‐22 Project was awarded a long‐term P3 concession in 2011. The entity that owns the exclusive rights to charge and collect tolls on the road is  Autopistas Metropolitanas.

In Q1 2020, Goldman Sachs Infrastructure Partners sold its 49% stake in Metropistas to Ullico who subsequently partnered with Axium Infrastructure on the purchase . The financing was undertaken in order to backlever the 49% interest in Metropistas.

The Concession Agreement has a term of 50 years with ~41 years remaining (expiring 2061)


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Deal Volume
$ 181.6m
Financial Close
31 July 2020
Sources
Submitted by participant(s)

All Dealmakers

Makela Hughes

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Tranches


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Projects

Autopistas Metropolitanas de Puerto Rico

Greenfield
Road
Costa Rica
$ 181.6m