CENTRO DE NOTICIAS | TPE´s issue - A significant milestone in PLMB financing
TPE´s issue - A significant milestone in PLMB financing
TPE´S ISSUE - A SIGNIFICANT MILESTONE IN PLMB FINANCING
The Bogotá Metro Company, in charge of the planning,
structuring, construction, operation, exploitation and maintenance of the Bogotá metro, published on Tuesday July 28 the results of
the first issue of the Payment for Execution Titles (TPEs). These resources are
intended to finance part of the construction of the First Line of the Bogotá Metro (PLMB).
The issue
consisted of 2.4 million titles, with a 23-year term, which will constitute a
total of $ 2.4 trillion, which will be used for the adaptation and construction
of the system. The TPEs will be backed by the Nation, and will continue to be
in the custody of the EMB, until the constructor delivers contractual execution
units for component C of remuneration, at which time they will be delivered as
part of the payment. From that moment, the holder will have free disposition of
the titles and will receive the principal and interest payments. The payment of
the titles will be biannual for 23 years (46 periods). The first payment will
be made on May 15, 2023 and the last payment will be made on November 15, 2045.
The
registration of the TPEs will be in charge of the Centralized Deposit of
Securities of Colombia (DECEVAL), entity in charge of the reception in deposit
of the titles registered in the National Registry of Securities, providing the
market with a comprehensive, efficient and safe system for the control and
administration of the life cycle of the securities and they may be negotiated
by their holders, as well as serve as collateral in other stock market
operations. It is necessary to highlight that these options will provide
liquidity to the concessionaire and guarantee the possibility for any
interested party to invest in this figure.
The Metro
de Bogotá Company
will pay the Concessionaire in cash, both in Pesos and in USD, as well as with
TPEs when completing each unit of contractual execution.