IXAS Zuid-Oost B.V., a special purpose company created by Ballast Nedam, Fluor, Heijmans Capital and 3i Infrastructure, has reached financial close for the A9 Gaasperdammerweg PPP project in Amsterdam, the Netherlands.
The project includes the design, build, management, maintenance and financing of the existing and new infrastructure of the A9 motorway between Diemen and Holendrecht.
The short term debt of €140 million and half of the long term debt of around €410 million has been made available to the project by DZ Bank, SMBC, Société Générale, ING, KBC and BNG. The European Investment Bank will provide the other half of the long term debt. The equity investment will be made by the four shareholders of IXAS Zuid-Oost B.V., with an equal share.
Operis were pleased to undertake a full model audit of IXAS Zuid-Oost’s financial model at both bid stage and financial close, including a full range of sensitivity analysis and a review of the model’s tax and accounting.
