Holland & Knight Advises TransMilenio on COP$670 Billion Financing for Development of Calle 13 Corridor in Bogotá

BOGOTÁ (December 18, 2025) – Holland & Knight acting as legal counsel and Cibest Capital acting as structuring agent advised TransMilenio S.A., the company responsible for planning and managing Bogotá's bus rapid transit (BRT), in obtaining its first debt quota authorization granted by the city's council and in the subsequent structuring and negotiation of its first credit facility of COP$670 billion (approximately US$175 million). Banco Davivienda and Colombia's Financiera de Desarrollo Nacional served as lenders. The credit facility will be repaid using funds provided by the city government under the cofinancing agreement signed between the Capital District and Republic of Colombia for the development of the Calle 13 Corridor construction project in Bogotá.

The Calle 13 Corridor project involves an investment of approximately COP$4.3 trillion (approximately US$1.1 billion). This project aims to improve one of Bogotá's main roads, reducing travel times and operational costs for public and freight transportation; decongesting and economically strengthening the western part of Bogotá; benefiting approximately 643,000 residents in the area; and reducing CO₂ emissions by about 33,900 tons annually, considering that an electric transportation fleet will operate on this route.

Holland & Knight's representation in the credit facility was led by Partners Camilo Gantiva Hidalgo and Maria Juliana Saa, with support from Associate Juan Felipe Fontecha Mejía.