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The government of Panama-owned Empresa Nacional de Autopista (ENA) has agreed to buy the 14km Corredor Norte toll road from PYCSA for $650 million. It will finance the acquisition with a 144A regulation S bond issue and equity, the same structure it used for the $420 million Corredor Sur deal last year. Global Bank and HSBC are managing the sale, which is expected to launch in May or June.





