Project Description
The region is showing an under-investment in infrastructural works, often due to long term financing or budget limitations by the respective authorities. Ficus Capital is sourcing transactions in the infrastructural projects or and leading companies in the various infrastructural sub-sectors. Large development projects in ports, roads and electrical infrastructure, as well as works related to industrial sized water treatment projects and other utility services count with our specific interest. Our typical activity in this sector is the structuring of project financing and M&A and the structuring of strategic partnerships with large regional or global strategic investors to enable local groups to bid for or win larger scale mandates.
The benchmark transaction in Uruguay for local project bonds –a new international airport- was managed by Ficus Capital in 2007 when we structured and very successfully placed a 15 year bond in Uruguay’s local capital markets. This was the first large long term issue after the financial upheaval in the regional markets, at a time when no long term lending alternatives were available. Ficus, through our extensive network of institutional global contacts and strong regional presence, managed to structure an innovative transaction in which North American pension funds and financial institutions participated. The bond has traded with a strong premium during all of its outstanding, and the airport, after the construction was finished, has been named best airport by several international aviation organizations.
We have furthermore structured M&A transactions in the sector, including the sale of the airport concession of Punta del Este.
