- The company successfully placed approximately USD 630 million in two bond tranches, with strong market demand.
- Investor demand exceeded 1.6 times the amount offered.
Ruta del Maipo, a concession of ISA VÍAS in Chile, successfully carried out a bond issuance in the market through two tranches to refinance the company’s debt. Both bonds received a local AA+ rating from Fitch Ratings and Humphreys and are considered landmark transactions within their industry.
This transaction represents Ruta del Maipo’s first issuance of sustainability-linked bonds and a unique case in Chile’s road concessions sector, demonstrating the maturity of ISA VÍAS in incorporating Environmental, Social, and Governance (ESG) targets into its management and its commitment to generating a positive impact across the entire ecosystem. Sustainability-linked bonds are debt instruments in which the financial conditions of the bond (such as the interest rate) are tied to the issuer’s achievement of sustainability targets, measured at the corporate level rather than by the specific use of proceeds.
“We continue to consolidate our position as a key player in infrastructure development, reaffirming our regional commitment to the construction and operation of sustainable corridors that connect territories, drive economic growth, and generate social and environmental value. Market confidence in this institutional milestone validates the rigorous work we consistently carry out and confirms that we are moving in the right direction to further promote growth and competitiveness in the countries where we operate,” said Gabriel Jaime Melguizo, Acting President of ISA.
The transaction, executed on Tuesday, March 31, was aligned with the Sustainability Financing Framework established by the company in collaboration with Itaú Bank and Banco Santander, who acted as structuring banks.
“The performance of this bond reflects the market’s confidence and interest in supporting the development of the country’s road infrastructure. Demand significantly exceeded expectations, and the bonds were fully placed in just 14 seconds, which makes us proud of the ongoing work we carry out with investors,” said Alejandra Carrasco, Corporate Finance Manager of ISA VÍAS in Chile.
About the Sustainability-Linked Bonds
The issuance consists of Series G, totaling 2.15 million UF, with a term of 8.5 years and a placement rate of UF + 2.48%, and Series H, totaling 12.6 million UF, with a term of 10.9 years and a placement rate of UF + 2.89%.
Ruta del Maipo, an ISA VÍAS Concession
Ruta del Maipo is the main southern exit from Santiago and part of Route 5, Chile’s backbone of land transportation, registering traffic exceeding 88 million vehicles over the past year. The concession has been a pioneer in sustainability, joining the Huella Chile program at an early stage and obtaining carbon neutrality certification since 2022, reflecting its commitment to decarbonization.
From an operational standpoint, it is a high-standard highway with additional second and third lanes along certain sections. It stands out for the implementation of free-flow technology at all its main toll plazas, contributing to reduced stops, lower fuel consumption, and fewer emissions, along with the installation of 14 electric vehicle charging points that strengthen sustainable mobility infrastructure.
Commitment to the Development of Sustainable Corridors
Through more than 935 kilometers of infrastructure, ISA VÍAS contributes to the energy transition by acting as an enabler of transport decarbonization through the integration of energy efficiency, circular economy principles, innovation, and technology. ISA VÍAS promotes tangible solutions such as more efficient routes that reduce travel distances, free-flow tolling systems that eliminate stops and help cut vehicle emissions, and the deployment of charging infrastructure that supports the adoption of low-emission vehicles, reinforcing its role in the transformation toward cleaner and more sustainable mobility across the territories where it operates.