Jamaica Highway Gets Financing

Jamaica-based toll road operator Transjamaican Highway Limited (THL) has obtained a $285m 18-year financing package from a syndicate made up of the European Investment Bank (EIB), the IDB, the IFC, and Proparco. Of the total amount, the EIB is putting up 27%, the IDB 27%, the IFC 27% and Proparco 19%, according to US-based Astris Finance. Astris acted as exclusive financial advisor to THL. Proceeds will be used to refinance a bond issued in 2001 to finance the first phase of construction of the Highway 2000 toll road and to finance a 10-km expansion of the road.