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New template for Baixo Tejo highway

19 December 2008

Read more: [baixo tejo] [toll road. project finance] [ppp]

Financing for Portugal's next PPP highway under its new road programme, Baixo Tejo, will close at the beginning of January. The deal had been scheduled to close by the festive break but has slipped a few days.

The project is sponsored by a Brisa-led consortium. A total of Eu453 million ($642 million) 14-year amortizing debt will be provided by commercial banks. Three banks have so far committed: CaixaBI (also financial adviser to the consortium), Santander and BES. It is possible that other banks could join before signing, with BBVA and Caja Madrid among the banks interested.

The Baixo Tejo concession features the highest service component across the new programme and is likely to be...


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