The Lima Metro Line 2 consortium closes bond issuance for 1.155 billion dollars

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24/06/2015

The Lima Metro Line 2 consortium closes bond issuance for 1.155 billion dollars

The consortium Metro de Lima L2 S.A., which is currently carrying out the line 2 construction works of the Lima Metro and a branch of line 4, has successfully completed the bond issuance in international markets for 1.155 billion US dollars. The bonds have a 19-year maturity and will pay an annual coupon of 5.875%. The consortium Metro de Lima L2 S.A. comprises ACS, FCC, the Peruvian company Cosapi and the Italian companies Ansaldo and Impregilo.

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The funds obtained from this issuance will be used to finance part of the underground works in Lima. It is the highest ever private bond issuance in Peru.

The expansion of the Lima Metro, awarded on 28 March 2014, consists of the construction of 35 kilometres of underground metro and 35 stations. It is the largest infrastructure project carried out in Latin America and is highly significant for the development of Lima city, which currently has no underground metro line.

The works are expected to be completed by 2020 and more than 660,000 people are estimated to use the service daily. However, the commissioning of the metro will begin by phases, with the service commencement of the first phase predicted for 2017.