Slovakia’s R1 Expressway PPP reached financial close on August 27, 2009. A total of 12 banks participated in this landmark transport deal.
The project involves the construction of a 52km 2×2 lane motorway, which will connect the towns of Nitra and Tekovské Nemce, whilst bypassing the city of Banská Bystrica, to the east of Bratislava. The concession comprises a design, build, finance and operations contract for 30-years.
The lenders involved in this transaction include:
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BNP Paribas
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BayernLB
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BBVA
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Calyon
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Dexia
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EBRD
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Erste Bank
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ING
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KfW
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Natixis
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NIBC
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Société Générale
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Unicredit also participated and provided a VAT facility of €32m.
The banks are set to provide a 25-year, €1bn loan for the project, which ended up being over 15% oversubscribed.
Operis audited the financial model, which included tax and accounting advice, for the Vinci/Meridiam winning consortium.
