The Brazilian development bank BNDES has approved a R1.2 billion ($576.5 million) bridge loan to Aeroportos Brasil for the Viracopos-Campinas airport concession.
The short-term debt will finance up to 80% of capital costs at the airport and be repaid by a long-term loan from the development bank. It will go towards phase one expansion projects, which include expanding annual passenger capacity to 14 million from seven million by May 2014.
The Triunfo Participacoes e Investimentos, UTC Participacoes and Egis Avia-owned Aeroportos Brasil consortium closed on the 30-year concession in June. The consortium made a R3.8 billion upfront payment to ANAC, the National Civil Aviation Agency of Brazil, and must invest R6.3 billion in the airport over the term of the concession.
BNDES approved a R1.2 billion bridge loan to an Invepar, Airports Company of South Africa and OAS consortium for the expansion of Sao Paulo Guarulhos in October.