Finance & Banking · Corporate Finance

Concesiones 4G/5G — La Trampa de las Vigencias Futuras

Crisis simulation of a Colombian 4G toll-road concession (SPV) facing a 38% traffic shortfall, DSCR in technical default, fiscal-rule cuts to vigencias futuras, and a stalled consulta-previa segment.

4 rounds Executive English, Español

Preview

About this simulation

Crisis simulation of a Colombian 4G toll-road concession (SPV) facing a 38% traffic shortfall, DSCR in technical default, fiscal-rule cuts to vigencias futuras, and a stalled consulta-previa segment.

Across four rounds — diagnosis, ANI otrosí negotiation, lender refinancing table, and Senate testimony — teams rebuild DSCR, equity IRR, political viability and contractual defensibility, navigating MEC doctrine, fuerza mayor, project-bond credit enhancement and the Ruta del Sol II precedent.

Who it is for

An advanced simulation for participants used to working with the main frameworks and trade-offs of the subject, designed for executive education and experienced professionals.

How a session runs

  1. The instructor creates a session from the Eureka dashboard and invites the participants.
  2. Participants play 4 rounds. In each one they submit their decisions and the simulation calculates the results. The first round opens with: Diagnosis.
  3. The simulation can be run in English, Español.
  4. The instructor follows each participant's progress and results from the dashboard, and uses the class results for the debrief.

Decisions participants make

The decisions participants make during the simulation:

  • Concessionaire-side share of the 24 bn gap (%)
  • Most credible contractual lever
  • Fuerza mayor recognition request
  • UF3 milestone re-baseline target (%, original 85)
  • Contraprestación advance request (COP bn, max 110)
  • Activate cuenta de excedentes
  • Refinancing structure
  • Credit enhancement (only relevant for Option B)
  • Senate testimony posture
  • Admit shareholders mispriced traffic risk?

Subjects covered

Designed for courses in Corporate Finance.

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