ICO receives Deal of the Year award from the prestigious magazine Project Finance International for the "Metro de Lima" project
The award was given to ICO, KfW, CdP and Santander as the financers in this deal, with Iridium, FCC and Finmecánica as sponsors.
Project Finance International, the magazine published by Thomson Reuters, has given the Deal of the Year 2015 in Latin America award to the financing of the Metro de Lima project in the P3 (public-private partnership) category. Every year, the publication recognises projects with the most complex and innovative structured financing, classified by industry and region.
A total of $800 million was raised and completed in October 2015 to finance the Metro de Lima project. ICO contributed $60 million.
In addition to ICO, Cassa depositi e Prestiti also participated in the project with 290 million along with KfW IPEX-Bank, Banco Santander and Société Générale which all contributed 150 million each. The interest rate on the financing was hedged by Simest and guaranteed by the Italian firm SACE.
The project itself involves improvements to Line 2 of the Metro between Lima and Callao, in the western part of Lima, home to Jorge Chávez international airport and Peru's largest and most important port, as well as extension work to the existing Line 4.