Practice Areas - Project Finance and Infrastructure Law Firms and Lawyers
| Deal Date: | 24-03-2014 | Practice Area: | Project Finance and Infrastructure |
| Deal Title: | EIB PBCE Support for A11 PPP, Belgium | Industry: | Public Sector |
| Description: |
Global law firm White & Case LLP has advised the European Investment Bank (EIB) as the provider of credit enhancement on the successful close of a EUR577.9 million project bond to finance the construction of a motorway in Belgium. The EIB provided a letter of credit under its project bond credit enhancement initiative.
The A11 motorway Public-Private Partnership (PPP) project is the first greenfield infrastructure project to receive credit enhancement under the European Commission and EIB Project Bond Initiative, launched in Brussels in 2012. The financing is part of the test phase for the Project Bond Initiative which aims to invigorate capital market financing for infrastructure projects. The A11 motorway is due for completion in 2018. The project is one of the six major "missing links" in the Flemish road network and the largest DBFM (Design-Build-Finance-Maintain) road project to date in Flanders.
The White & Case team was led by London-based partners Caroline Miller Smith and Gavin McLean with support from associate Kamran Ahmad (London), counsel Ferdinand Brughmans and associate Serkan Alhan (both Brussels).
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| Financial Center: | London | Value: | 500.01-1000.00 |
| Advised Party: | Enhancement Provider | Law Firm | White & Case |
| Project Jurisdiction | Belgium | Sponsor Jurisdiction | Belgium |
| Classification: |
Project Bonds Roads: |
Lawyer | Caroline Miller Smith |
