November 22, 2021

Milbank Advises Lenders on the First USPP Sustainability-Linked Financings for TransMilenio in Colombia


Milbank LLP advised investors and lenders in connection with the $126 million US Private Placement (USPP) financings relating to three separate electric bus concessions granted by TransMilenio, the public transportation authority for the District of Bogota, Colombia. This transaction marks the first time a USPP has been used to finance TransMilenio concessions. Natixis acted as sole placement agent for the notes, in addition to acting as sole sustainability coordinator and LC issuing bank; Natixis and Bonus acted as joint structuring agents and joint rating advisors of the notes. 

The Milbank team was led by partner Jaime Ramirez along with associates Daniel Rios Zertuche and Juan Huertas.

Mr. Ramirez said: “We are honored to have supported the investors and lenders on this novel transaction in Colombia. We are dedicated to advancing clean energy initiatives in Latin America, and are hopeful that this will serve as a precedent for many more similar transactions in Colombia and the region.”

Milbank continues to have the lead legal role in many of the most significant Latin American infrastructure matters and regularly advises clients on a wide range of securities, financing and acquisition transactions. The firm was recently recognized as “Global Legal Adviser of the Year” and “Latin America International Legal Adviser of the Year” by IJGlobal“Latin America Legal Advisor of the Year” by Proximo and “Banking & Finance Legal Adviser of the Year” by Bonds & Loans Latin America & Caribbean Awards 2021.