Practice Areas - Project Finance and Infrastructure Law Firms and Lawyers
| Deal Date: | 28-07-2015 | Practice Area: | Project Finance and Infrastructure |
| Deal Title: | M11 (Moscow-Saint Petersburg) Bond and Bank Project Financing | Industry: | Public Sector |
| Description: |
Linklaters advised on the M11 motorway project (sections 7 and 8 of the Moscow-Saint Petersburg motorway, km 543 - km 684) - the first PPP project in Russia financed by combination of bank debt and infrastructure bonds secured by the concession rights.
The project included financing, design, construction, operation and maintenance of a 138 km toll motorway originating at the Saint Petersburg ring road under a concession agreement. The concession company Two Capitals Highway LLC was financed through two tranches of bonds and loan from VTB Bank. The Sponsors of the Project were VTB Group and Vinci Concessions. The total construction cost is about EUR1.1bn with the Russian Federation (represented by the state company Avtodor) financing 75% of construction costs through capital grant (RUB 57.6bn), and non-recourse financing comprising RUB 23,2bn (about EUR400m).
The Linklaters team led by Julia Voskoboinikova (counsel) and Andrei Murygin (partner) acted for the lenders (including VTB Bank and pension funds).
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| Financial Center: | Moscow | Value: | 100.01-500.00 |
| Advised Party: | Equity Sponsor,Project Company Issuer | Law Firm | Linklaters |
| Project Location | Russian Federation | Equity Sponsor | Russian Federation |
| Classification: |
Project Finance Road Project Bonds Roads: |
Lawyer | Julia Voskoboinikova |
