Latin Finance - September/October 2014 - 28

AWARDS
INFRASTRUCTURE
FINANCE
2014

After a year of progress and innovation in deal-making, Latin America's
infrastructure financing markets have broader options, greater experience,
and more maturity, despite - or perhaps because of - sometimes challenging market conditions

T

he push for infrastructure in Latin America is
growing ever-stronger. In the months and years ahead, Colombia's
unprecedented road building program is set to advance, Mexico's
energy industry is expected to draw in private capital, and a major gas
pipeline is to be built in Peru.
But moving from concept to construction is tough - often, because
sourcing the financing is not easy. The winners of LatinFinance's 2014
Infrastructure Finance Awards demonstrate how capital markets can
best be used for financing these projects. Some have pioneered new
financing structures; others have overcome extensive complications to
reach a close, or made creative use of development bank support.
The awards have been selected by LatinFinance's editors after
close examination of information provided by market participants,
interviews with people in the industry, and research of publicly
available information on the projects.
As was the case when LatinFinance launched its infrastructure
awards a year ago, the transactions came amid a rapidly changing
market backdrop.
Infrastructure developers in Latin America have found the bond
markets opening to them, allowing a new opportunity to raise capital.
That has helped infrastructure projects find capital - particularly as
many traditional project finance lenders continued to feel the pinch of
the eurozone crisis and new bank capital regulations.
Eurozone bank financing began to increase of the latter half of the
awards period - the 12 months to May 31. But as bond market swings
have made clear, higher global interest rates and tougher conditions
eventually look inevitable. Thanks to these deals, the choices and
precedents in Latin America's infrastructure financing market have
been greatly expanded. LF
28 LATINFINANCE.COM - September/October 2014

BEST POWER FINANCING
BEST RENEWABLE ENERGY FINANCING
BEST INFRASTRUCTURE FINANCING: ANDES
Chaglla hydroelectric pwroject
$774m project financing, July 2013
BEST TRANSPORT FINANCING
BEST ROAD FINANCING
BEST LOCAL CURRENCY FINANCING
Rodovias do Tietê
BRL1.06bn debenture, June 2013
BEST PORT FINANCING
Transportadora Callao
$100m loan, October 2013
BEST AIRPORT FINANCING
Guarulhos International Airport
BRL3.78bn financing package, Dec-13, Mar-14  
BEST MINING FINANCING
BEST LOAN
Sociedad Minera Cerro Verde
$1.8bn loan, March 2014
BEST BOND
Eten Cold Reserve
$132.8m bond, December 2013
BEST INFRASTRUCTURE FINANCING:
CENTRAL AMERICA
Reventazón hydroelectric project
$135m A/B project bond, January 2014
BEST INFRASTRUCTURE FINANCING: BRAZIL
Sete Brasil
$1.25bn bridge loan, August 2013
BEST INFRASTRUCTURE FINANCING: MEXICO
Offshore Drilling Holding
$950m bond, September 2013
BEST PROJECT SPONSOR
Odebrecht
BEST INFRASTRUCTURE BANK: BRAZIL
Itaú BBA
BEST INFRASTRUCTURE BANK: MEXICO
Banco Santander
BEST INFRASTRUCTURE BANK
BEST INFRASTRUCTURE BANK: ANDES
BNP Paribas
BEST INFRASTRUCTURE LAW FIRM
Milbank
http://www.LATINFINANCE.COM
Latin Finance - September/October 2014

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