Vouga Abogados assisted Tape Pora S.A. in a new bond issue, acquired in full by four national banks, to partially finance the works related to the concession for the construction, duplication and adaptation of Route No. 7 “Gaspar Rodríguez de Francia” in the area between Pastoreo and Minga Guazú. The total amount of the bonds placed on this occasion amounts to 72,000 million guaraníes (US$ 11.9 million).

National banks signed agreements for the purchase of bonds issued and placed by the concessionaire through the Bolsa de Valores y Productos de Asunción S.A. under the Global Issuance Program PEG03.

To ensure the payment to investors, the concessionaire constituted an administration and payment source trust through which it has transferred to the trust the surpluses of the administration and payment trust constituted in 2017, called Tape Pora 02, whose autonomous patrimony is constituted by the toll collection rights in the concessioned section of Route 7. The constitution of the new administration and payment source trust named Tape Pora 03 implies a subordination of the debt service by priority of payment of the bonds under the Global Issuance Program PEG02 in relation to the bonds under the Global Issuance Program PEG03.