BR-135, MG-231 & LMG-754 Highway Upgrade

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This project involves the expansion and upgrade of the BR-135, MG-231 & LMG-754 highways in Brazil. The BR-135 highway is located in Maranhão, Piauí, Bahia, Minas Gerais states, the MG-231 highway and the LMG-754 highway are located in Minas Gerais state. This initiative includes asphalt paving and reconstruction of 301.2km of BR-135 highway, rehabilitation of 40.1km of LMG-754 highway, and modernization of 22.65km of MG-231 highway, as well as developing a 13km ring road in the municipality of Montes Claros. The sponsor for this initiative - Eco135, part of the EcoRodovias Group, won a 30-year concession contract back in 2018. The total project cost is $106.83m (R$520m) of which the Brazilian Development Bank BNDES acquired $64m (R$312m) and the investment manager Kinea acquired $42.83m (R$208m) in debentures from the highway concessionaire Eco135. The Bradesco BBI acted as a partner to BNDES in consortium that coordinated the process. The financial close date is September 20th, 2023. https://x.realfin.com/transaction/250545/ecorodovias-debentures-2023 https://www.bndes.gov.br/wps/portal/site/home/imprensa/noticias/conteudo/bndes-subscreve-rs-312-milhoes-em-debentures-para-rodovias-em-minas-gerais https://www.ijglobal.com/articles/175519/bndes-kinea-purchase-debentures-in-highway-concession-brazil https://agenciadenoticias.bndes.gov.br/detalhe/noticia/Rodovias-de-Minas-receberao-financiamento-de-R$-996-milhoes-para-obras-de-melhoria-e-ampliacao/