Colombia’s ISA Secures COP Loans to Prepay Debt

Colombian state-own power grid operator ISA has clinched COP100bn ($56m) in a 5-year loan from Davivienda and BBVA to help prepay part of a $550m loan from ABN AMRO and JPMorgan, according to a spokesman at the borrower. The funds being paid down were secured for the acquisition of ISA’s Brazilian subsidiary CTEEP. The COP loans pay DTF plus 389bp and have a 3-year grace period, the ISA spokesman says. BBVA committed 75% of the total. ISA recently announced its intention to bid on a Chilean road concession that would require investment of $280m.