CAF has structured a US$500 million A/B Loan for Cálidda, Peru’s leading natural gas distribution company, to support the expansion of its distribution network in the Lima and Callao metropolitan areas. The loan will finance Cálidda’s investment plan to connect 900,000 additional people to natural gas service and deploy 569 kilometers of new distribution networks, while also refinancing part of the company’s existing debt. This transaction marks Cálidda’s first A/B Loan and CAF’s first in Peru in the past 15 years, highlighting a milestone in strategic energy infrastructure financing in the region.
Three major international financial institutions—Bank of America N.A. (BofA), Bank of China Limited, Panama Branch (BOC), and SMBC—participated as B Participants, jointly contributing US$245 million. CAF, acting as Lender of Record and Lead Arranger, mobilized these private sector resources in alignment with multilateral development bank standards, demonstrating confidence in Cálidda’s role in advancing Peru’s energy transition.
The financing is expected to significantly enhance access to natural gas, which contributes to environmental improvements, cost savings for consumers, and broader socio-economic development. By expanding the distribution network, Cálidda aims to foster energy inclusion, improve quality of life, and support Peru’s sustainable development goals.
CAF’s Executive President, Sergio Díaz-Granados, emphasized the importance of joint efforts by top-tier financial institutions in driving impactful energy projects, reinforcing CAF’s commitment to mobilizing private capital for inclusive and sustainable energy transitions in Latin America. Mario Caballero, Cálidda’s CFO, noted that the funding strengthens the company’s financial structure, accelerates network expansion, and reinforces its position as a key player in Peru’s energy landscape.
Overall, the transaction illustrates CAF’s strategic role in delivering innovative financial solutions that promote economic growth, social inclusion, and environmental sustainability, while supporting the long-term objective of universal access to natural gas in Peru.
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