The N17/N18 PPP is a 57km section of road between Gort and Tuam in west Ireland. The project reached financial close on 30 April 2014, is currently under construction and was refinanced during May 2016.
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.
The senior debt providers are Bank of Ireland, Natixis, Societe Generale, Aviva, AG Insurance, Munich Re and Massachusetts Mutual Life Insurance Company.
Operis carried out a financial model audit for the refinancing of this project, on behalf of the sponsors, the senior lenders and the procuring authority.