Vouga Abogados advised Tape Pora S.A. in all the contractual legal matters for obtaining the financing for the works related to the concession for the construction, duplication and adequacy of Route No. 7 “Gaspar Rodriguez de Francia” in the section between Pastoreo and Minga Guazú. The advice included the drafting of the contract for the acquisition of bonds, the trust agreement and all other legal documents necessary for the formalization of the transaction.

Six domestic banks and two foreign banks with local subsidiaries will finance 57% of the works. The banks signed agreements for the acquisition of bonds for Gs. 350,000,000,000,000, to be issued by the concessionaire Tape Porã through the Bolsa de Valores y Productos de Asunción S.A. for a term of 15 years, including a 2-year grace period, and a variable rate of 9% to 11.25% per annum, according to the installment payment term.

To provide security to investors, the structure also provides for the creation of an administration and source of payment trust, whereby Tape Pora transfers the entire right to collect tolls on the concessioned section of Route 7 to an autonomous patrimony that will be managed by Banco Atlas SAECA as trustee.

The banks GNB Paraguay, Familiar and Sudameris Bank will purchase bonds for 60 billion guaraníes each; Banco Itaú Paraguay will purchase bonds for 75 billion guaraníes; Banco Regional SAECA, for 65 billion guaraníes, while the banks Amambay and Bancop, and the financial company Solar will purchase bonds for 10 billion guaraníes each.

The total investment is USD 130,000,000, of which 57% will be covered by the bonds issued, and the other 43% with Tape Pora's own resources, i.e., generated by toll collection and shareholder contributions.

The work is scheduled to be completed in 28 months.