AllianzGI makes largest infrastructure debt investment to date in Uruguay
AllianzGI has invested in a $250 million private placement to support the Ferrocarril Central rail project in Uruguay, the largest concession in the country’s history. Proceeds of the notes will be used to fund new senior debt and partially refinance existing indebtedness. This marks AllianzGI’s largest investment to date in Uruguay, and its second partnership with IDB Invest. Since 2015, AllianzGI has deployed over $7.3 billion in infrastructure debt investments across the Americas, including $2.6 billion in Latin America
AllianzGI has invested in a $250 million private placement to support the Ferrocarril Central rail project in Uruguay, the largest concession in the country’s history
Proceeds of the notes will be used to fund new senior debt and partially refinance existing indebtedness
This marks AllianzGI’s largest investment to date in Uruguay, and its second partnership with IDB Invest
Since 2015, AllianzGI has deployed over $7.3 billion in infrastructure debt investments across the Americas, including $2.6 billion in Latin America
June 10, 2022 – NEW YORK – Allianz Global Investors (“AllianzGI”), one of the world’s leading active investment managers, announced today that has invested $250 million on behalf of its clients in a private placement to support the construction of the Ferrocarril Central railway project, the largest infrastructure concession in Uruguayan history. This marks AllianzGI’s largest infrastructure debt investment in Uruguay to date, and its fourth in the country.
The Ferrocarril Central project will upgrade 273km of railway connecting Paso de los Toros to Montevideo under a long-term concession granted by the Uruguayan government. Once complete in Q2 2023, the railway will convey up to 4.5 metric tonnes per annum of freight to the Port of Montevideo for export and should significantly contribute to GDP.
AllianzGI joins the Interamerican Development Bank (“IDB”), IDB Invest, the Corporación Andina de Fomento (“CAF”), CAF Asset Management Uruguay, Sumitomo Mitsubishi Banking Corporation, Intesa Sanpaolo S.p.A., New York Branch, and Global Infrastructure Partners in providing funding for the project. Proceeds of the $250 million notes will be used to fund new senior debt and partially refinance existing indebtedness. The investment will take the form of an IDB Invest B-bond, in the Infrastructure Debt team’s second partnership with IDB Invest.
Paul David, Head of Americas, Infrastructure Debt, at Allianz Global Investors, said:
“Ferrocarril Central is our team’s 13th investment in Latin America, with AllianzGI having put $2.6 billion of investment to work across Chile, Colombia, Mexico, Peru, and Uruguay since 2018. This critical infrastructure project, the largest in the history of Uruguay, will help renew and expand this strategically important railway, supporting jobs and economic growth”.
The Ferrocarril Central announcement follows AllianzGI’s participation in the loan syndication of Everstream Fiber, a leading independent fiber telecom provider. Everstream Fiber marks the Infrastructure Debt Americas team’s first floating rate investment and its first investment in the telecommunications sector. With the successful execution of these two transactions, AllianzGI’s Infrastructure Debt platform has invested nearly $7.3 billion in infrastructure assets across the Americas over the past seven years, with more expected to follow.
Borrower Grupo Via Central S.A. is a consortium comprised of Sacyr Concesiones SL (“Sacyr”), NGE Concessions SASU (“NGE”), Compañía Sudamericana de Empresas Eléctricas, Mecánicas, y de Obras Públicas S.A. (“SACEEM”), and Berkes Construcción y Montajes S.A. (“Berkes”).
Overview of Sponsors
Sacyr is a multinational concessions, infrastructure and services group committed to innovation and sustainability. Sacyr has worked on the development and maintenance of 20+ rail projects across Europe, Africa, and Latin America over the past two decades. NGE is France's fourth largest construction company by revenues, with 7 core business lines including railworks, where NGE has been active for nearly 100 years, and currently present in five Latin American countries. SACEEM is a leading engineering and construction company in Uruguay with over 1,600 successfully executed contracts since 1951. Berkes is a top Uruguayan engineering and construction company with over 80 years of history specializing in projects with structural engineering, electromechanical components and energy projects.
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with over 700 investment professionals in 24 offices worldwide and managing EUR 637 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.
Active is: Allianz Global Investors
Data as of 31 March 2022
Investing involves risk. The value of an investment and the income from it will fluctuate and investors may not get back the principal invested. Past performance is not indicative of future performance. This is a marketing communication. It is for informational purposes only. This document does not constitute investment advice or a recommendation to buy, sell or hold any security and shall not be deemed an offer to sell or a solicitation of an offer to buy any security.
The views and opinions expressed herein, which are subject to change without notice, are those of the issuer or its affiliated companies at the time of publication. Certain data used are derived from various sources believed to be reliable, but the accuracy or completeness of the data is not guaranteed and no liability is assumed for any direct or consequential losses arising from their use. The duplication, publication, extraction or transmission of the contents, irrespective of the form, is not permitted.
This material has not been reviewed by any regulatory authorities. In mainland China, it is for Qualified Domestic Institutional Investors scheme pursuant to applicable rules and regulations and is for information purpose only. This document does not constitute a public offer by virtue of Act Number 26.831 of the Argentine Republic and General Resolution No. 622/2013 of the NSC. This communication's sole purpose is to inform and does not under any circumstance constitute promotion or publicity of Allianz Global Investors products and/or services in Colombia or to Colombian residents pursuant to part 4 of Decree 2555 of 2010. This communication does not in any way aim to directly or indirectly initiate the purchase of a product or the provision of a service offered by Allianz Global Investors. Via reception of his document, each resident in Colombia acknowledges and accepts to have contacted Allianz Global Investors via their own initiative and that the communication under no circumstances does not arise from any promotional or marketing activities carried out by Allianz Global Investors. Colombian residents accept that accessing any type of social network page of Allianz Global Investors is done under their own responsibility and initiative and are aware that they may access specific information on the products and services of Allianz Global Investors. This communication is strictly private and confidential and may not be reproduced. This communication does not constitute a public offer of securities in Colombia pursuant to the public offer regulation set forth in Decree 2555 of 2010. This communication and the information provided herein should not be considered a solicitation or an offer by Allianz Global Investors or its affiliates to provide any financial products in Brazil, Panama, Peru, and Uruguay. In Australia, this material is presented by Allianz Global Investors Asia Pacific Limited (“AllianzGI AP”) and is intended for the use of investment consultants and other institutional/professional investors only, and is not directed to the public or individual retail investors. AllianzGI AP is not licensed to provide financial services to retail clients in Australia. AllianzGI AP is exempt from the requirement to hold an Australian Foreign Financial Service License under the Corporations Act 2001 (Cth) pursuant to ASIC Class Order (CO 03/1103) with respect to the provision of financial services to wholesale clients only. AllianzGI AP is licensed and regulated by Hong Kong Securities and Futures Commission under Hong Kong laws, which differ from Australian laws.
This document is being distributed by the following Allianz Global Investors companies: Allianz Global Investors U.S. LLC, an investment adviser registered with the U.S. Securities and Exchange Commission; Allianz Global Investors Distributors LLC, distributor registered with FINRA, is affiliated with Allianz Global Investors U.S. LLC; Allianz Global Investors GmbH, an investment company in Germany, authorized by the Internal German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin); Allianz Global Investors (Schweiz) AG; in HK, by Allianz Global Investors Asia Pacific Ltd., licensed by the Hong Kong Securities and Futures Commission; ; in Singapore, by Allianz Global Investors Singapore Ltd., regulated by the Monetary Authority of Singapore [Company Registration No. 199907169Z]; in Japan, by Allianz Global Investors Japan Co., Ltd., registered in Japan as a Financial Instruments Business Operator [Registered No. The Director of Kanto Local Finance Bureau (Financial Instruments Business Operator), No. 424], Member of Japan Investment Advisers Association, the Investment Trust Association, Japan and Type II Financial Instruments Firms Association; in Taiwan, by Allianz Global Investors Taiwan Ltd., licensed by Financial Supervisory Commission in Taiwan; and in Indonesia, by PT. Allianz Global Investors Asset Management Indonesia licensed by Indonesia Financial Services Authority (OJK).
AllianzGI seals strategic partnership agreement with Voya Financial
Definitive agreement reaffirms core pillars of partnership announced in May. AllianzGI remains on track to transfer US investment teams to Voya Investment Management this summer. Comprehensive distribution agreement will see AllianzGI become distributor of Voya IM capabilities, including transferred investment teams, outside of the US and Canada. Allianz Group to take a 24% stake in enlarged Voya IM