The Calgary Ring Road project reached financial close on Friday the 16th February 2007.
The project involves extending the Stoney Trail from Deerfoot Trail to 17th Avenue SE. The 21 km stretch will include four- and six-lane roadways, six interchanges and 22 bridge structures. The Alberta Government plans to open the roadway to traffic in 2009/10.
This C$500m (US$425) project has been financed with wrapped bank debt provided in equal amounts by Dexia and Fortis Bank. The debt will be guaranteed by Financial Guranty Insurance Croup.
Operis provided financial model due diligence on behalf of Bilfinger Berger and the funders.