The N17/N18 road project reached financial close on 30 April, 2014.

The new motorway, comprising of a 57 kilometre stretch between Gort and Tuam in west Ireland, is expected to be completed in late 2017 and will be followed by a 25 year maintenance concession.

The project sponsor is the Direct Route consortium formed by Marguerite, Strabag, InfraRed, John Sisk & Son, Lagan and Roadbridge. The procuring authority for the project is the National Roads Authority.

Senior debt is being provided by a combination of bank lenders and institutional investors including senior lenders EIB, Natixis, Ageas, Bank of Ireland, Societe Generale and Aviva.

In support of this transaction, Operis completed a model audit, including a tax and accounting review, on behalf of the sponsors, the senior lenders and the procuring authority.

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