Rio de Janeiro Water & Sanitation Bloc 3

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This project involves the modernization of Rio de Janeiro Water & Sanitation Bloc 3 - the last block of (Companhia Estadual de Águas e Esgotos do Rio de Janeiro), located in Rio de Janeiro, Brazil. The special purpose vehicle is SAAB Participações III S.A. - an Aguas do Brasil subsidiary - won the auction for the 35 years concession on 29 December 2021. The company offered to pay upfront to the government of R$2.2 billion ($390m). The project sponsors are Aguas do Brasil and Vinci. The project has a total investment value of BRL2.38 billion ($468 million), the majority of which will be financed through a 2-tranche, BRL2.0 billion ($393 million) debentures with maturity of 3 years. Santander, Itau BBA, BTG Pactual and XP Investimentos acted as bond arrangers on the issuance. The sponsors will provide the remaining BRL381 million ($75 million) in equity. The financial close date is March 15th, 2022. Realfin https://valorinternational.globo.com/business/news/2021/12/29/rios-last-sanitation-block-auctioned-for-r22bn.ghtml https://www.reuters.com/article/brazil-auction-cedae-idUSL1N2TE18B https://br.lexlatin.com/noticias/grupo-aguas-do-brasil-realiza-emissoes-de-debentures http://www.debentures.com.br/exploreosnd/consultaadados/emissoesdedebentures/caracteristicas_d.asp?tip_deb=&selecao=SABP11 IJ Global - Vinci invests in Brazilian sanitation